Been watching GXY closely for a while now... but this is a mixed report.
Positives: Average price above $900 is sensational
Negatives: Recoveries are abysmal Product grades are low, under 6% (which makes the average selling price even more sensational) Operating cost is up
If it wasn’t for the sensational price received, and excluding POSCO, they would have been under the water. They got a free kick from price. Need to sort out recoveries, produce on spec, and get their cost under control, for me to become interested again.
