I have been re-reading the last quarterly to understand the underground production a bit better. My earlier post had assumed that the underground tonnes would still be ramping up in the March quarter and wouldn't reach the full 3,000 tpd until June Quarter. However the sentence below suggests 3,000 tpd from the UG would be achieved in March Q as well, although presumably still at a grade below reserve.
Plugging that in suggests guidance is more achievable than my previous forecast. I still think that anything less than 35koz in December Q makes 180koz for FY19 too hard.
If they are still on track I would expect they would time a commercial production announcement to be within a day or two of the reserve updates for Westralia and Cameron Well to really try and shift market sentiment.
Helps that the gold price is back to A$1730.
DCN Price at posting:
$1.99 Sentiment: Buy Disclosure: Held
