RE: Today’s RNS22 Jul 2021 09:23
Pdub. I applaud your boundless enthusiasm and optimism and I refrained from posting negative comments yesterday. But " excellent" is not a word I would use - and the failure of the SP to rise much sort of suggests many took that view. Solid, yes. The levels they now achieve and which you applaud are still below the levels RNSd on 22 .8.2018 :Phase Two of the Vametco expansion project, comprising the commissioning of the third primary mill and secondary crusher, was successfully completed within budget and on time. This phase of the expansion project increases annualised production capacity to 3,750 mtV, from 3,035 mtV achieved in Phase One, which was completed in Q3 2017. We expect to see gradual increases in output over the course of H2 2018 as the operation ramps-up to the 3,750 mtV rate.
FM has acknowledged they overpromised but to still be below a level that they believed was achievable as a result of work completed in Q3 2017 takes the gloss off the RNS for me. Still, currently highly profitable and surely surely has to start rising soon I hope.