My initial thoughts, are, the ramp up is going fairly well.
Some issues, but, all are clearly being dealt with.
The grades look good, which is somewhat surprising, as I thought they would have been using low grade ore initially.
Lots of ore on the ROM pad (600k).
Exploration, hmm... I guess its still early days.
Cash position, perhaps a little on the light side, but... only because they just secured a project very cheaply.
As I read it, they have about $22m in liquidity, and expect costs of approx $40m for the quarter (production, etc etc).
So.... that is not a huge amount wiggle room. Yes, they sold some gold early July, so, perhaps $25m liquidity.
To continue with approx $10m as a buffer, CMM are going to need to sell (not produce, more than that) around 11,700 ounces for the Sept Q.
That sounds achievable, though I think there is still risk of a small raising. Not that I think CMM cannot get one done quickly. I am sort of surprised they did not just raise the $20m to pay for the aquisition.
Anyway, still happy to hold, but, I would not be surprised if we saw a little weakness in the near term.
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capricorn metals ltd
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Last
$9.03 |
Change
-0.035(0.39%) |
Mkt cap ! $3.878B |
Open | High | Low | Value | Volume |
$9.05 | $9.15 | $8.93 | $2.129M | 236.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 1230 | $9.02 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$9.03 | 356 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 360 | 9.010 |
12 | 1603 | 9.000 |
15 | 1486 | 8.990 |
12 | 3050 | 8.980 |
9 | 2173 | 8.970 |
Price($) | Vol. | No. |
---|---|---|
9.020 | 1225 | 15 |
9.030 | 1640 | 11 |
9.040 | 3254 | 9 |
9.050 | 1988 | 8 |
9.060 | 2632 | 5 |
Last trade - 11.51am 29/07/2025 (20 minute delay) ? |
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CMM (ASX) Chart |