Breakout Gap Running, page-196

You forgot that $2.5M cash received for the CR and the 3 month stockpiles of $15M, the cash from the $4M on the refinery floor as at 30 Oct, the deferred reduced loan due on 10 Jan not 31 Dec of only U$3M not $4M, the higher POG now 1288 not 1233 plus the higher hedge of 3koz at $1344 likely already settled this week of U$4M to maximise FCF.

Then we add in the $14.6M cash and bullion from 30 Sept and the additional production revenue at say AVRP 1250 plus the hedged production of 13koz at 1233 of U$16M revenue plus the $1.5M from Casposo due 31 Dec.

Dec Qtr. 18 = 13,000 $1,233.34 (Done)
March Qtr. 19 = 3,000 $1,344.80 (Probably done this week)

What cash issue, if they had a cash issue they wouldnt do a SPP over 2 months would they, they would get another $3M by CR as allowed at the AGM!
They would defer the whole Investec loan to 31 March and TC to February as they have done in the past.

You realise they can do that right?
Sure AISC may be slightly higher and production slightly lower but they have been valued as an explorer lately and nothing for Tallman, the Karouni mill, the Spearpoint/Larken mines or the 2 year LOM. They are valued at 1 years FCF only right now.

Looks like market is realising that TRY super high grade mine in on the fast track and AVRP is boosting FCF. TRY is a cashflow bullet!

The breakout gap is running and again on very light volume as no large sellers in sight.
10M or 20M share accumulation could take this way higher as there is no volume down here.

TRY is the cheapest goldie on the ASX (PER of 1.0, MC=1 year FCF