Concierge gives you timely BUY and SELL alerts on ASX-listed stocks
Tietto Minerals (ASX:TIE) released its monthly production update this morning and investors were not impressed.
What are the Best stocks to invest in right now?
Check our buy/sell stock tips
Tietto Minerals (ASX:TIE) downgrades guidance
The company, which operates the Abujar Gold Mine in the West African country of Cote d’Ivoire, released its update for the month of August. Although it produced 11,191 ounces in August, this was down from 11,643 in July. The company admitted it was behind schedule now given issues such as wet ground conditions and the absence of normal pre-stripping.
Furthermore, these issues were projected to continue into the second half a year and as a consequence, it adjusted its guidance to 75-87koz as well as its production schedule through to 2030.
Is the future still bright?
Tietto Minerals tried to mitigate the damage by reminding shareholders it would produce ~172,000oz on average over the next 7 years, had $43.8m in closing cash and bullion and projected US$50-60m in cash flow during the second half. But this was unsuccessful and shares fell by over 20%. Tietto Minerals has now more than halved since its all time high reached in December last year.
Clearly investors believe these issues will persist for some time and they could well be right.
Stocks Down Under Concierge is here to help you pick winning stocks!
The team at Stocks Down Under have been in the markets since the mid-90s and we have gone through many ups and downs. We have written about every sector!
Our Concierge BUY and SELL service picks the best stocks on ASX. We won’t just tell you what to buy – we give you a buy range, price target and stop loss level in order to maximise total returns. And we will only recommend very high conviction stocks where substantial due diligence has been conducted.
Our performance is well ahead of the ASX200 and All Ords.
You can try out Concierge…for FREE.
There’s no credit card needed – the trial expires automatically.
Why do ASX companies raise capital at a discount? This is a question many investors ask when they are diluted…
Airline stocks and fuel prices: Air New Zealand (ASX:AIZ) and Qantas (ASX:QAN) investors just got a painful reminder about the aviation industry’s biggest cost
The relationship between the performance of Airline stocks and fuel prices has seemingly been forgotten in the past couple of…