This is a cracker of an announcement. It looks like the company was deliberately being conservative in its forward guidance and this is the "best thing around since sliced bread was invented", or at least the best goldie.
By my estimate net debt is now down to around AUD240m and they are on track to fully meet the repayment of the two loans within the contracted timeframe, and still have enough cash on hand in 2018 to give the development of the Gwalia mine shaft the go ahead.
MacBank's $1.25 price target is now probably conservative - perhaps they will revise it up to $1.40 and this little former orphan could reach $2.00 by late next year.
Yeah I will happily take that extra 70-80% SBM gain some are eager to discard.
loki (BobbyV for mine CEO of the year)
Ann: Strong gold production and cash generation in Q1 Sep 2015, page-2
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