One major point that has been overlooked by most here, the pour is for the first month, transfer of Morila title only occured on 11/11/20 - This pour is for 2 weeks of November. In theory with improved works this will be 8000oz Dec, Jan, Feb. The proposed 26350Oz of tailings should be depleted way ahead of schedule by Feb and not as proposed May.
This is excellent news, especially when the newly defined local satellite deposits will soon be added to the tailings to increase output massively ahead of schedule.
With the gold futures tipped to be marginally in decline until March then ramping upward from there the timing couldn't be better for more cash up front to help the campaign, then building cash reserves.
Based on this alone and taking into consideration 20% gov take - USD to Aud - ramping to near capacity by Novemeber next year we could literally be looking at Turning over Pre Australian Tax profit of $120mill plus in next 12months.
| | Oz | Pre tax Profit |
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1 | Nov-20 | 4000 | $2.91m |
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2 | Dec-20 | 8000 | $5.40m |
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3 | Jan-21 | 8000 | $5.40m |
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4 | Feb-21 | 8000 | $5.40m |
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5 | Mar-21 | 8000 | $5.40m |
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6 | Apr-21 | 8000 | $5.80m |
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7 | May-21 | 12000 | $9.99m |
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8 | Jun-21 | 12000 | $11.23m |
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9 | Jul-21 | 15000 | $15.60m |
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10 | Aug-21 | 15000 | $17.16m |
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11 | Sep-21 | 15000 | $18.72m |
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12 | Oct-21 | 15000 | $20.28m |
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13 | | | $123.34m |
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So what is the MC today???? This will most certainly get re-rated very quickly when the new issue SOI have been depleted.