Missed Guidance: Has It Been Fully Priced In??..TBDBased on just looking at the bands:
FY 2017 for TN: 24,000 - 27,000 per last week's news release
FY 2017 for Nevada-wide: 178,000 - 185,000 per November earnings report
The lowest band for consolidated production then goes to 202,000 (24,000 + 178,000)
And highest band for consolidated production then goes to 212,000 (27,000 + 185,000)
This is the crazy part however:
Q1 to Q3 average GOE production at TN: 6,250 GOEs per quarter (18,752 GOEs total as of end Q3/3 quarters)
If FY 2017 at TN is actually only 24,000...then this means quarterly over 4 would be 6,000 GOEs..and mean LESS PRODUCTION RUN RATE THAN Q1-Q3 average of 6,250 GOEs!!!
FY2017 at 25,000 = 6,250 GOEs and would then tie the rate of Q1-Q3
If they cannot hit FY2017 at 26,000 or 27,000...this would be a complete embarassment and be extremely odd since everything with the stopes improving and waste development under control was all highlighted in the conference call in November. This is a massive F* UP when looking into the #s.
Stop the madness as Kevin O'Leary would say. Thank God they realized to close this garbage and wait for higher PoG..in the meantime they spent millions this year..caused their all-in costs to increase due to TN as was highlighted in conference call for Q3.
I am sure the BoD is reviewing 2018 guidance, how to still have decent production of 215,000 GOEs + and be PROFITABLE at low cash costs. This is not brain surgery here boys. Cut your G&A as well which is completely bloated.
JIN