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23/06/24
16:39
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Originally posted by informativeation:
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It just doesn’t bode well for a positive quarterly. In the whole interview, he literally didn’t mention this current quarters performance once. He never mentioned once that there were Zero ounces being delivered to the hedge this quarter and the huge benefit from 100% exposure to the current gold price and how much MORE money they will have. He never mentioned once that there was Zero debt to be paid this quarter and how positive that will be for the end of quarter “cash in bank” position. He never mentioned once how production for the current quarter was tracking, especially given full exposure to no debt and no hedging. Now, all our amateur analysts here have done little else other than that talk up how important this quarter is for rebuilding a substantial windfall to cash in the bank. We’ve even had numbers of an additional + $20M ADDED to the cash position from the last quarter ie a total of over $30M expected in the bank at the end of the quarter….a war chest if you will. There were plenty of “thumbs up” and further posts more than agreeable with this analysis, all with a hearty following of “thumbs up” and back slapping. Now DR has completely blown up this analysis by casually mentioning in a throw away line that cash in bank will be about the same as last quarter ie around $12m?? So what was this hard hitting interview and update really all about when they don’t address even once the status of this quarter in relation to100% exposure to gold price and no debt repayments?? Back to the spreadsheets boys and girls then back calc $12M in the back at the end of the quarter and see what that does to your cost and grade assumptions. Then prepare for the “one off” excuses as to why this occurred and won’t happen again….albeit next quarter is back to ugly hedging AND debt repayments. Any you guys think they can actually restart and run a second operation?
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Matt did his best to call out the Nullagine ore body structures at the 14.30 minute mark - queries recoveries and metallurgy. Dave reiterates 90%+ recoveries on them all - and Matt repeats that slowly in disbelieving tone of voice. EPA water report is readily accessiblehttps://www.epa.wa.gov.au/sites/default/files/Referral_Documentation/CMS18164%20-%20Att%20AB%20SRK%202022a%20H3~n%20-%20Beatons%20Creek%20Gold%20Pty%20Ltd.PDF I realize there are many water bores, and the excerpt below is Millenium not Beatons Creek, but there are some serious issues around water quality in the area. excerpt is page 244 from 474 pages I would recommend a bit of research before writing @informativeation off. This is not a matter of being a cheer squad - it is supposedly investing.