I made below notes from a quick read if the annual report. Have a few basic questions as a newbie to mining.BCN Share: 4.1cBCNOB: 1.8c, exercise price 2.5c by 17/8/2022906Mn oppies; 159Mn exercised in 2020Fully diluted shares: 3.7 BnBoard holding:Shares: 541Mn of 2.8Bn= 20%Options: 151Mn of 906Mn=16.7%Top 20: 48% shares, 54% optionsPer 23/9 Ann:Jaurdi gold project:118.6K oz of contained goldOnly about 8k oz produced from June-Oct 2020. So there is still about 110K oz of contained gold.At $2500, potential revenue = $275MnProduction of 3KOz per month= 37 months or approx 3 years of LOM at current production
- Question- Please confirm above
$6Mn cash in bank after paying off debenturesAn report- Sep 2020Question- What does this mean on pg 4:Ore stockpiles at 30 June 2020 were 373,000 LCM, containing 24,000 ounces of goldPanther: 9814 Oz containedAt $2500, potential revenue = $24.5MnQuestion- What is the purpose of the hedge book?Key financials:Debt free after 12/10- paid off debenturesRevenues: $42.8 MnCOGS: $29 MnGross profit: $13.8 MnGP margin: =13.8/42.8= 32%Net profit:$10.9 MnNP margin= 10.9/42.8= 25%Appreciate any thoughts on items marked as Questions.
By the way, can you please clarify:
- Is the $100Mn in equipment marked as long term assets, where is depreciation for them?
- How did you work out $4Mn monthly profits?
- 3.8Bn fully diluted registry- would that be concerning? (Granted good holding by board and Top 20)
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