@bentleigh KCGM east wall remediation plan will be announced in Sept quarter.
Other notes from conf call:
1) SAR's net indebtedness was $20M, at end of the March20 quarter (Slide 23). That rate of paying off the debt is impressive (still trying to wrap my head around the numbers), given the net indebtedness was approx $254M just back in November 2019 when the 50% KCGM purchase was announced ($450M senior secured loan, with then-current cash reserves of $196M + the Red5 equity). Way to go, SAR!
2) Thunderbox pit C had a minor wall failure during the quarter. This slide has been cleaned up and C is back in use, but in any case did not affect production because SAR was able to pull from D zone and stockpiled ore. Even while taking big steps like the KCGM purchase, SAR runs the business quite conservatively. 1.7M ounces of ore stockpiled.
I am building a larger position on the dips.
SAR Price at posting:
$4.54 Sentiment: Buy Disclosure: Held
