I have a number of good news items for EXG, which have come through a variety of back channels that seemed to have opened up, suddenly. These channels are not official so your own judgement applies to their veracity (for you Aussies that don’t understand big words, that means accuracy, truth or realism). This is in no way an attempt to ramp this share, so caution applies
As a business man who runs my own companies I know the importance of cash flow, and I think this is great news. What they need to do is just settle in, get a good rhythm going, move the dirt, process it, turn it into cash, pay the bills and bank the profit.
- Global10 is apparently gone from the register with final sell down today. Personally I hope this is the case as it should put a floor under the price and allow it to move north with confidence. I have been wanting to buy more at these prices but was “freightened’ of getting dicked again by G10
- I am told that they have received all Tranche 2 payments and the second payment (+$2 million) from the new cornerstone investor
- All outstanding mining costs for April and May have been paid!
- An expected good cash payment from Norton this month, EXG estimate they will produce 100,000 tonnes (probably at around 2g/t) which translates into roughly 6,250 ozs, and with an expected gold price of $1800, the 50% upfront payment from Norton will be at least.....
- $ 5.6 million!
What I would like now
It would be great to see some financial projections from EXG management. With all the kerfuffle and drama of recent times, and all those discovery and drilling updates it is easy to lose sight of the bottom line. Id like to see a projected P&L, conservative mind you, so we have some upside hidden away. J
I'd hope we can all start buying this share with confidence.
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