***** The Co-O budget for 2015/16 financial year is currently in preparation and the production guidance for next year will be announced during the current quarter. (ie this month) *****
Why would the company be announcing production guidance for next year this month and not with Q4 results in July or Annual results in August?
The likely explanation to me is they are confident that production by the end of June will be showing a significant sustainable uplift with Co-O mine issues being progressively resolved that will favourably reflect in Q4 results and carry over into FY 2015/16. eg if production for April, May, June is 9.5k, 10.5k, 11.5k oz that could be the green light to announce guidance of a minimum 11.5k x 12 or 138k oz for 15/16 and to release it as a separate RNS so that it's significance is not lost in the detail that comes with a quarterly or annual report.
MML Price at posting:
90.0¢ Sentiment: Buy Disclosure: Held