I’m far more comfortable with LLL than I am with FFX at the moment.
Simon steered GXY through some tough times and I made very good coin. You get the impression he is only now going to be his own boss now completely seperate.
Now Mike, I’m not so sure on.
The 17k - 20k Oz this quarter is bare minimum to even look like getting any chance of 100k Oz 2022. He is already well off his LOM update 5/5/21 forecasts.
And god knows how much money he is spending. $43m last quarter alone!!
A tad over $100m less $20m entitlement + $10m loan repay less the quarters negative cash flow. Add on 2 more quarters negative net cash. Avg last 12 months is $25m neg cash per Qtr.
Its all starting to look a bit tight on the cash front to see us through to serious positive cash flow which is half 1 2023.
Thats 12 months!!
Shorters are betting on diesel costs and general inflation to put pressure on the balance sheet IMO, and another CR on the cards.
The next quarterly we will see if Emperor Mike has any clothes or not.
