Been under the pump on other matters last week but the last sentence below appears to have been overlooked - "With study work at an advanced stage Vault anticipates releasing the results and an updated outlook for the Leonora operations in late Q4 FY25."
Is there an upgrade to KOTH reserves just around the corner? Share price seems to suggest it as well with tidy reversal from last weeks lows.
Also pleasing to see that at Deflector the company is drilling to convert inferred resources into reserves implying there is still life left at Deflector.
Operating performance was below expectations but they are forecasting over 100,000 ounces this quarter to meet guidance meaning there will a lot more unhedged sales of around 65,000 ounces generating almost $3,000 in margins. This is explained by lower French Kill stripping with double the grade. I am still hoping for close to $800 million in cash by the end of the quarter if the price stays around $5,200.
I haven't reconciled the capex YTD to forecast - I'd say they have just about spent most of it in regards to stripping so hopefully it will start to drop off excluding plant upgrade.
Nice to see some drilling results included in the report for a change. Needs to be more of it.
Nice to
GLTA/IMHO
VAU Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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