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CaptainBarnacles

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31/07/14

13:59

Post #: 13746184
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Originally posted by TitusPullo ↑

Caught me napping, this from the 29th April announcement "Managment Discussion and Analysis Report."

"Looking ahead at Didipio, the operation will be mining
and processing lower gold grades and mining less ore
as a result of increased pre-stripping from Stage 4 of
the pit. In the second quarter, there is a shutdown of the
process plant for planned maintenance. The Company
expects to mine more ore and at higher gold grades at
the end of the second quarter through to the end of the
year. Throughput rates are also expected to steadily
increase during the year through debottlenecking to
achieve the planned 3.5 Mtpa rate by the end of the
year.
Looking ahead at Reefton, the Company expects to
mine and process higher grades beginning in early third
quarter. Additionally, the final cutback at Reefton will be
completed early in the third quarter.
Subsequent to the quarter end at Macraes on April 19,
a pit wall failure due to heavy rain resulted in a
temporary suspension of mining activities at the open
pit and underground. There were no injuries and
production was unaffected as stockpile ore was fed
through the mill. Production from the underground
resumed on April 24 and the Company is currently
developing a new mine plan for the open pit. The
Company expects minimal impact from this event as
the current mine plan included mining less ore and at
lower grades with an increasing proportion of low grade
stockpile ore being processed.
Overall, the Company expects to achieve its production
guidance for 2014."

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Thanks TP - mathematically they will not need another quarter as good as q1 for the rest of the year to meet guidance. However after q1 - I think the market was hoping the guidance was conservative.

OGC Price at posting: $3.12 Sentiment: Sell Disclosure: Held
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