FY18 Gold production at the top end of guidance - Fy 18 copper production well above guidance - AISC well below guidance - FY 19 Au of 80 to 85 k an increase of 30% - Good solid quarterly in my opinion....Unfortunately lot of gold stocks down today SBM produced a strong quarterly yesterday and was up strongly that day but down 12.12% today or 0.65c .....Up until now the priority was sustainability and generating cash - Well done this has been achieved - The focus now is on growth with a production of 100k and LOM of 5 years is the aim at Deflector with No development changes required to reach FY19 guidance and an announcement due shortly on Andy Well that will increase the net cash position substantially and provide other corporate opportunities....Petra capital - Stock analysis - RBC Capital all asked questions mainly around exploration around Deflector and a lot will be spent 40% of the 10 million on the immediate area around the mine plan footprint and shadow of the decline. There was a mention from the Geo that Deflector is a structually complex ore body and a the discovery recently on the Link Lode highlighted the potential to find these high grade sprays - They are taking the understanding of the structure and moving further out with a 10klm strike length - understanding that this is a much larger structure with only sporadic exploration in the past and a lot has been untested....They mentioned moving forward that the focus will not be on development as development is well ahead of scoping and they are not chasing the orebody down but more lateral......DRM hit the top of its upward channel since the recovery started and it that it has previously hit 4 times so it was always going to take more than a good quarterly to bust out and up however its still trending up so all is good
DRM Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
