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$5.75 capricorn metals ltd

Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-4

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127 Posts.

10

30/07/21

17:19

Post #: 54914365
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Originally posted by speculator101: ↑

My initial thoughts, are, the ramp up is going fairly well.
Some issues, but, all are clearly being dealt with.
The grades look good, which is somewhat surprising, as I thought they would have been using low grade ore initially.
Lots of ore on the ROM pad (600k).
Exploration, hmm... I guess its still early days.

Cash position, perhaps a little on the light side, but... only because they just secured a project very cheaply.

As I read it, they have about $22m in liquidity, and expect costs of approx $40m for the quarter (production, etc etc).
So.... that is not a huge amount wiggle room. Yes, they sold some gold early July, so, perhaps $25m liquidity.
To continue with approx $10m as a buffer, CMM are going to need to sell (not produce, more than that) around 11,700 ounces for the Sept Q.
That sounds achievable, though I think there is still risk of a small raising. Not that I think CMM cannot get one done quickly. I am sort of surprised they did not just raise the $20m to pay for the aquisition.

Anyway, still happy to hold, but, I would not be surprised if we saw a little weakness in the near term.

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remember $6M just came in from exercise of options by the team.

CMM Price at posting: $2.18 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $5.75		Change -0.020(0.35%)		Mkt cap ! $2.170B

Open	High	Low	Value	Volume
$5.74	$5.79	$5.63	$3.924M	683.6K

Buyers (Bids)

No.	Vol.	Price($)
2	2056	$5.74

Sellers (Offers)

Price($)	Vol.	No.
$5.76	2955	1

View Market Depth

No.	Vol.	Price($)
2	3635	5.700
1	5309	5.650
2	2178	5.600
4	21958	5.550
1	2200	5.510

Price($)	Vol.	No.
5.920	2831	1
6.010	23	1
6.100	6932	1
6.230	86	1
6.300	6400	1

Last trade - 16.10pm 04/10/2024 (20 minute delay)

CMM (ASX) Chart