A very pleasing report.
This report will now place a solid floor between 36-38c.
I don't think DRM will be visiting 30-32c now.
Looks like my cash estimate was slightly off by mere 1.3 million.
I had guessed 39-42 million but it came out 30.7 +7 million (westpac debt repayment).
I might have overlooked some hedge delivery at AUD 1600 on my back of the envelope calculation.
One more thing I should suggest management is to also include the copper productions equivalent in the projected guidance. It appears they are producing roughly 3000-3300 tons of copper which is equivalent to over 15000 ounces of gold. When the copper credits are included DRM is a 90-100K ounce producer.
Have I got this right. If anyone has otherwise suggestion please help me out.
Overnight gold stocks had a punishing day in the land of IOweUSA , which might put a dampener here.
Or else I would have thought 40c would have been conquered easily based on this quarterly report and future guidance.
Overall my decision to stay long is still valid and rewarding so far.
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A very pleasing report. This report will now place a solid floor...
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