Glad to hear that RUC have a good rep Wassa, hopefully that will go some way to ameliorate the market's distrust of PRNs operational history....
Interesting that they are forecasting 50k for the first half of 2024. Still seems a little bit too far above what they have been grinding towards, so I would be happy enough with 45k etc. If as they mention, that Feb was generating free cashflow, my basic numbers imply they must be selling in excess of $20m AUD (quarterly costs are roughly $60m). This gives me a minimum production for Feb of approx 6500 ounces, at a gold price of $3100.
That def bodes well for March with the sport price sitting around $3250 AUD.
PNR might get close to being able to pay their projected debt payments and fund Scotia U/G development.
Would be a great time to sell Halls.... anything to help the balance sheet.
I wonder if the smaller loan will be converted... seems like an opportune time to do so.
A real operational turnaround will hopefully see PNR get noticed (it is still stupidly cheap compared to pretty much every producer, except maybe CAI).
(20min delay)