I would say people did not like what they saw in the Qrtly. Nothing more, nothing less. Whether that is fair or not is another question.
I think uncertainty in the wording of some parts of the Qrtly even though it looks like a good result (provision invoice raised post quarter of ~$8m and due soon one would imagine) and the hint the price was helped to stay VWAP 3.8cps whilst they were trying to place the Rights shortfall. Add uncertainty/choppy market sentiment in general and this is the result. Someone else noted HAZ is not Robinson Crusoe. A couple of Quarters of positive cash flow and the release of unit costs on a C1-style (I know they are not mining but buying the concentrate) or indicative C1-style cost basis would possibly ease peoples uncertainty over cashflow sustainability.
Some might see it as a buying opportunity, but I am sure if they are following this stock, they are probably already long enough.
HAZ Price at posting:
3.2¢ Sentiment: None Disclosure: Not Held
