worzel
"The Qtly report was not very good for my money. 27k ozs of gold sold from Gold in Circuit(GIC), 16.5k ozs of which was "finished goods""
Page 3 of the report indicates that GIC drawdown was much less than you state, but I agree that this was necessary to meet the production target, and occurred ahead of what JW had discussed in the March 2018 conference call (as far as I recall). In the circumstances that is OK in my view. Lots more drawdowns to come from Syama to meet 2018-19 targets, until the underground mine is fully operational. Again that is what I expect and is needed to keep them alive.
I agree with you on Orca - its a totally absurd investment, and basically a con in my view. It is likely to be dog and nobody sensible will put their money in the Sudan (or Egypt) to build a mine. JW needs a wake up call on some of his African insights, and I note that some of the analysts asked him about country risk - but he is sticking to his guns. Being a big guy he thinks he will just roll up and impose his will on ISIS.
loki
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worzel "The Qtly report was not very good for my money. 27k ozs...
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