Gold is at or near record highs, so time to put in some updated numbers.
Assume that Red will produce 55koz in Dec QTR and aisc of 1700 using Sept 23 QTR as guidance.
- sale of 28,608 into hedge at $2260 or margin of $560
- sale of 25koz into spot. Average spot qtd is approximate $3,050 or margin of $1,350.
Estimated profit $50m.
Allowing $11.25m for growth expenditure, we have a $39.5m cash build.
Net debt for Dec 23 QTR end estimated to be just under $30m. Should be cleared by end of Q3FY24 allowing the company to easily refinance into a corporate facility.
Only thing left after that is the hedgebook, but nothing can really be done about that except through passage of time. One would think Red would be worth around $1.5bn (45c) once the debt is under control. This was where GOR was valued at earlier this year when ave $APOG was $2700.
Gold is at or near record highs, so time to put in some updated...
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Last
40.5¢ |
Change
-0.010(2.41%) |
Mkt cap ! $2.755B | |||
| Open | High | Low | Value | Volume |
| 40.0¢ | 41.3¢ | 39.5¢ | $5.806M | 14.34M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 732397 | 40.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.0¢ | 927828 | 9 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| RED (ASX) Chart |