BNOR’s Q2 results came in below (lagging) estimates, but were slightly better than indicated in the trading update issued on 23 June. As recent data points have shown that Tyra experienced variable uptime in the second half of June, the cut in Tyra production guidance for Q3 by ~14% was no big surprise. The company’s latest assessment is that uptime on the Tyra facilities should improve from 60% in Q2 to 70-80% in Q3 and 80-90% in Q4. For now, our updated estimates are somewhat tilted towards th ....
