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EMP 0.3¢

emp - for joker

  1. xerxes_ph

    9,081 Posts.

    Hi Joker,

    EMP's quarterly dissapointed as production was down some 14% due to the impact of geological complexities at Matangata East.....

    This resulted in a net loss after tax of $3.2 million for the quarter.

    EMP is working to review the structural geology on the longwall face of Matangata East and to counter the lack of face in Matangata East the company is now mining additional lower grade face on Matangata.

    Plant problems (with the surface chiller plant) have also contibuted to losses but these are now being rectified and by now should be just about fixed.

    Offsetting this is the good news that the Phase 2 expansion plan is running to schedule plus that fact that recent drilling results have been very promising.

    The recent decline in EMP's shareprice should only be temporary and may well represent a good buying opportunity.

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