AGM report and address looks pretty good, IMO
- cash on hand $11.9M (=market cap at 1.0c)
- Henty getting better production at lower cost (admittedly heading to "care and maintenance" without any additional reserves in H2CY15) and cash should build
- significant staff reductions (paid out) and cost reductions
- Dargues looking at on-site ore treatment (it could be financeable if treatment sorted)
- Bendigo available for sale (but no offers at fair price)
- plus prospects near Henty
- GoldStone could yield some $ in due course (who knows? I am not holding expectations!)
And it looks like board and mgt is being honest with us.
So let me do a look-forward to (say) mid 2015 (putting aside all that is not key):
- Dargues ready to start (needs $70M capital to produce 50koz gold pa at <$700/oz; at current gold price of AUD$1340/oz this produces $32M free cash flow pa) (5 year current reserves to be sure, but lots of nearby very good grades and lots of potential to signify extend mine life)
- Cash in bank (>$10-15M ???)
- Henty processing available if nearby reserves can be identified.
So, ask yourself if this company is worth more than $11M now.
IMO Yes!
DYOR
- Forums
- ASX - By Stock
- UML
- Ann: 2014 AGM Update from Managing Director & CEO
Ann: 2014 AGM Update from Managing Director & CEO, page-2
-
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add UML (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham, CEO
James Graham
CEO
Previous Video
Next Video
SPONSORED BY The Market Online