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09/01/15
11:02
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Originally posted by grandcaruso
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I don't really know these guys but at a quick glance things seem to be going pretty well. Their s/p was 52c this time last year, gold in aud terms was actually lower which probably would account for any missed guidance in production terms. They said they had $60M debt last year and the financials show about $16M cash as at 31/12/13. Now they have no debt which seems to be funded from streaming agreement and an equity raising - 30m each. So the cash is now $35.6m which is an improvement of $20M for the calendar year which is pretty good for an entity with a m/c just over 200m. Am I missing anything? Will look myself over the w/e. Liquidity definitely an issue here.
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GC
Definitely worth a good look.
They have enough higher grade ore for the next few years, I think, but they need to keep finding more to keep them profitable at a low gold price, should it persist long term.
loki