"Then you can start playing with the revenue, capex etc.. pretty sure dividends are coming."In regard to the CAPEX & dividends - a couple of key points below which were stated towards the end of the FY teleconference.
1. The growth CAPEX of A$429m is
offset by capital revenue of A$165m - ref below.
2. The A$165m capital revenue is based on
"a lot lower gold price in our budget"3.
"If the gold price remains strong" the dividend will be reassessed at HY21
Raleigh Finlayson was effectively flagging that the development revenue will be significantly higher than budget and therefore the board may agree to pay an interim dividend. Q1 average to date is likely above A$2650.
"Unless... SAR goes for one more acquisition. I think that would make sense, why stop at 800k p.a. 1m ounces a year, puts you on the global stage."The current mine plan already goes well beyond 800kozpa. As stated in the teleconference they don't hit the "sweet spot" until FY27 (ref figure 8, page 11 below). For the remaining 50% mine life the strip ratio drops from 10 to 2 at the same time that the grade increases from 1.8 to 2.2 g/t. This will drive a significant increase in production.
