PR noted some catalysts in the Gold preso, but these are mine in the next 2-3 months:
- Execute Twin Hills (October)
- Execute Mt Morgan vend with Smartset (increase the cash kitty significantly, pending escrow)
- Glen Eva + ESZ drill results. Glen Eva 2020 drilling was underwhelming, but the IP surveying is suggesting there's some good hits to be had if the drills are in the right place.
- Yandan JORC upgrade plus move of ~75% to indicated for East/South Hill. Only East/South Hill are in current JORC, so some drilling/geo on Illamahta and Yandan main will bring these up to JORC standard which will be a nice bump in overall oz.
- White Dam cash flow. Firstly, all that copper hasn't been sold yet, I presume a large sale will happen in this Q, which will be a nice bump to revenue on paper. Plus the metallurgical tricks have been turned on, so I am predicting gold production closer to 1-1.2k oz this Q, and all to GBM (2.5-3 m revenue at current gold AUD). Combine the additional White Dam revenue, with dumping of NVO shares, and the "quarters of cash left" metric in the 3C should be increased greatly, which has always been used as an indicator for a pending CR.
Unfortunately Yandan, which I viewed as the largest catalyst, did not move the needle so not too much interest at the moment. Gold specs are struggling, so just have to wait out the current sentiment for a rerate.
I'm happily topping up at these 11.5 levels. My first buy was 11.5c over a year ago, and look how much management have achieved in that time frame. Cannot wait to see what they achieve given another 12 months.
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