No I'm not concerned, it's a penny stock and they all carry...

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PinkDiamonds

3,390 Posts.

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08/11/18

21:37

Post #: 36440199
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Originally posted by TTrader ↑

Originally posted by PinkDiamonds
There are 4 points that explain why:

1) The focus is on opening up more stope work areas to access ore.
2) Equipment availability and utilisation were below expectations as the contractor established support services and systems at Plomosas.
3) Stope production was restricted due to maintenance issues causing limitations on decline haulage and transfer of the ore from stopes to the loading pocket.
4) The bypass is expected to be completed during November. This will remove the bottleneck for the transport of ore to surface, allowing for increased ore haulage with larger, faster trucks that are being mobilised to site.

Once the above short term problems are solved the numbers will go up in line with targets. A few hiccups but nothing to stress about in the long term at this stage.

Feb - June is when I'll be expecting stronger numbers and if they can't deliver by Feb - June I'll be out.

gla
thanks for the explanation PD, those points help clarify the current state of play. Are you not concerned about the delay in revenue, given that finances are a bit tight?

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No I'm not concerned, it's a penny stock and they all carry risks.

I'm happy they are making clearing up the bottleneck etc a priority to get it out of the way so we can go into 2019 with smoother operations on the ground.

If they are still having issues with equipment availability in January then I'll be a bit frustrated.

CZL Price at posting: 2.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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No I'm not concerned, it's a penny stock and they all carry...

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