Moor - whilst I am all for being optimistic, today's share price movement was largely (MIHO) because of the information provided on Slide 7.
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Suffice to say, its almost like the slide has been slapped together... Also.. the information is def not the same, or... has been mixed or averaged with more recent events, which, does I think, show that the wet has slowed them down (i.e Crushing circuit), albeit for perhaps just a couple of days, which would drag the average down.
Grinding circuit the same, average is lower, but... say 5 days of very low processing would affect it.
Grade profile, that I think is the bit that was most disappointing, i,e my guess is that the grade will only be around 1.7g/t as they will likely have processed a lot of the ore stored on the pad (from memory about 14k ounces, cannot remember the grade). Its very hard to know just what is meant by this. Hence why I am annoyed I even have to spend the time trying to work this out. Good companies lay it out in black and white, so investors don't have to dig around in a s*&t pile.
I am happy to see that the grade in the pits is not the issue.
This is from the Half yearly just a couple of weeks ago.
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So........ where I am heading with all of this, I think your prediction of 30k produced for the quarter is just too high. I will be happy with approx 22k. Anything below that and B.D needs to take a step back, ensure that any future proofing needed is done ASAP and get the team focused on 1 thing, making money. Yes by all means, Stage 2 is going to be a great announcement, but... what will strengthen the share price and protect us from a low ball corporate offer is Stage 1 producing at 100k p.a.
If I can take any positive from the share price weakness, its that it provides perhaps one more opportunity to buy cheap shares.
