terrible report,,,just quickly
production for group down,,,QTr on QTR, not near the 600K expected to get a lift in production guidance expected by many
costs up (benefit of parking diggers, mining stockpile ore, slashing of sustaining capex in the previous half reducing
had to start spending money to get all those reserves into cash at some stage, so costs up and given their guidance , more to be spent
,,,cadia forecast into the future seriously downgraded...thought it was a powerhouse,,thats why it borrowed all those billions,,,production delayed....
lihir,,,pfft,,,(all that money spend fixing repairing and still not even what it produced when it was broken and purchased )telfer the big one for last qtr ,,,pfft......low grade ore everywhere
So much for the 600K everyone was expecting and pumping
So keeping in line with the way this beast trades,,,bad report,,ncm goes up I suppose
PS,,POG AUD getting belted still all this QTR,,but I suppose we continually just ignore that as well
Main thing after all of this additional debt and management changes
Same period last year Mar 13
Produced 514421 MAR 13
ave gold price 1584
total production costs after credits 1086
$ from production of gold 814.8M
This QTR
Produced 551590
ave gold price 1445
total production costs after credits 1013
$ from production 799.8M
so up on last year after problem on production of OZ/
costs after credits compared to last year down
result - less money from gold
QTr on QTR..
costs up as they dumped a lot last QTr for credits and there want the same available this qtr, sustaining capital rising, costs therefore rise, big falls in production across many lines as it hits low ore, telfer and lihir right back, cadia after a ramp up and big spend not delivering for some time,,,,forward production guidance downgraded significantly
good luck,,,,,,,
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terrible report,,,just quicklyproduction for group down,,,QTr on...
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