wrong again
@eshmun, your analysis is flawed and heres why -
"At the end of the quarter, the Company had total liquidity of $9.6 million, including available cash of
$3.8 million and gold inventories at market value of $5.8 million" (TRY Q3 report)
You have wrongly calculated the figures as to inventory loss without deducting the extra inventory sold above production, see the breakdown here:-
Cash at bank went from $3.0M Q2 to $3.8M = up
$0.8M or 27%
bullion inventory went from U$8.0M to $5.8M (down U$2.4M due to at least $1.8M -2.4M of extra sales above production 21703 v 23046 = 1343 x U$1328 = U$1.8M) [looks like $0.6M extra inventory was sold than produced]
Net free cashflow went up in Q2 from U$4.1M to $14.2M a massive increase of 345%
"Net cash flow from operations was U$14.2 million for the quarter" (well higher than the Q2 of $4.1M)
So cash at bank actually went up 27%, free net cashflow went up 345% and the inventory dropped closely in line with the extra sales above production +/- U$0.6M hence the inventory drop.
Yet they also announced U$7M on debt repayments & stockpiles hit another record 180kT of 2 months production!
The suggestion of a liquidity crunch is wrong in fact its the exact opposite, Your analysis is flawed and typical of the motley crew who mis-analyse and disrespect TRY.
Any $600k drop in inventory was offset by the rise in cash at bank, large rise in net free cashflow and extra sales above production (likely a Q2 crossover receivable paid later of $600k)
And the liquidity & cashflow is now improving even more with stockpiles escalating and more sales above production likely meaning revenues will again exceed produced sold oz especially if it rains hard. And if we compare Q1 to Q2/Q3 liquidity its 60% to 100% higher rise which is indeed a sharp rise from U$6M of Q1 (Sept 2017) to now U$9.6M.
so you say
"Once I see all the debt paid, (31 Dec, it is very visible right now)
consistent production and (last 6 month at records)
visibility on mine reserves going forward (1-2 years not enough? regional drill results stunning)
I might consider the company"
LOL
By your conditions you may well be chasing it well higher than now when the pack arrives.
TRY will FLY
