Hi Early, you've been a valuable RMS contributor and I like reading your posts, keep an eye out for two Feb RMS events(can't believe how fast time flies!):
- Half Year Results; Most of the cash burn (stripping, etc) should flow through to upping NTA; resulting in a decent enough operating profit to cause a bleep on the big boy value radars.
- Water Tank & Perseverance drills: the last series of drills should come through anytime now. translating to a nice bump up in their resource estimates
After a re-read of the quarterly, am hopeful for once that they will exceed forecast. Understand that the extended mill shutdown would have led them to missing the Dec12 forecasts. But a 17,000 oz production guidance for Mar13 seems quite low given:
- Mar Quarterly 2013 will possibly be MM's first optimal steady state production stats for a full quarter, at higher ore grades, without having to feed the low grade stuff. Requote: "the mine has relied on feeding a proportion of low grade material until the end of the December 2012 quarter, at which time enough higher grade ore became available to fill the mill at the nameplate 1.7mtpa rate."
- Implementation of basic grade controls/optimisation processes will hopefully yield higher fine gold production in the June Quarter (really wished they would have implemented this earlier)
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- what about this one??
Hi Early, you've been a valuable RMS contributor and I like...
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