$13m FCF for the quarter. Likely they spent a few million on exploration. 4350/oz to sprott for a loss of US$650/oz (ish) or A$4m. Interest payments and debt repayments likely another $4m or so on top of that. So implied FCF of over $20m for the quarter. Not bad at all.
Debt can be repaid early as of end of April this year (3 years from close of the deal). Wonder given where rates are and the fact that EMR is c. net debt zero as of end of Dec if they start chipping away some voluntary payments. I don't think it gets us out of the production sharing agreement unfortunately. That is a bit of a burden. Likely another 2 years left of that.
Solid as always though. Back this team in for a multi-mine multi-country producer that will build towards 250kozpa and beyond. Happy to sit here personally.
Ann: Record Quarterly Gold Production, page-11
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