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clock Created with Sketch. 22/03/23
22:09
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Originally posted by precis:
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Hmmm. Well we have definitely turned things around since Clifford. Still there are a few things that are cautionary. Debt remained at $12.6m so a payment of $8-10 million (as the presentation says we repay each quarter) will need to come out of the available cash by quarter's end. Restricted cash remains at $41 million so we haven't added to that. Available cash has gone from $23.7m to >$30 million with the potential to go backwards $8m -$10m due to loan repayments. I note we had gold saved from Dragues to be sold in January so that may have 'ínflated' the current available cash figure. Metal prices are strong especially for gold, which up to FY2022 was making up 56% of revenue. I'm taking that to read that Dragues won't be delivering the 4g/t it needs to get anywhere near what the company keeps telling us it can do. It certainly has never approached the 5.7g/t average it was meant to deliver.
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$9.8m tax refund in January probably explains cash increase … maybe not so much from operations.)
(20min delay)