Latest DR Interview with Crux, page-2

Thanks Andee.

I've listened to this a few times now and two things of note

1. Dave has a stout constitution to be facing this guy again, he is the toughest interviewer I have ever seen.
2. Dave seems to be reading HC, as he seems very aware of what is being discussed here, eg the big shareholders who dumped , and is aware of our general concerns.

Here is a timeline of the video

00:25 clear pathway to 130Koz
01:40 Financial concerns re slow startup - depressed gold market, labour issues, startup issues (water, grade), debt
03:10 Water issues are solved. Thickener.didnt perform as expected with the transitional ore. , fresh ore works well. Bore water added to water feed,
05:35 In Feb mill has averaged 345/t per hour. Intention for March is to run at 10% above nameplate (which is 260/t per hour for the fresh, so 286/t ph )
06:20 How are cost being reduced?
06:45 how much money will be made for the year.....blended valued at $2500, as strip rate reduces then can aim for 1800 -1900 AISC
08:00 they have been on a learning curve with mining techniques.
08:35 Debt obligation...... 8M principle to be repaid per qtr, Have met interest payments and "some" of the principle. Will resolve the restructure Q1 2023.
11:00 as No 2 shareholder, Dave will be fighting for maximum NPV.
12:15 underground in Klondyke to proceeed (Yr 3?) , expecting 10gt feed from Blue Spec.
13:20 Recent drilling near Blue Spec got 1m @ 220g/t @ 40m depth, doing grade control to see if this can be shallow mined soonish.
14:15 cash generation from Klondyke next calendar year (2024) looks good.. but lean in 2023.
15:40 Comments re big holders dumping. Admits trust has been lost and plans to redress. Reforecast (prod & AISC) in next annual report
17:15 Moral improved onsite in comparison to last year when there was a lot of firefighting
19:35 Will be back again for a further interview in future.

My main takeaway was Dave doesnt seem too concerned about the debt, he clearly has a vision to push this project ahead and seems confident about it.
I was disappointed no mention was made of the 1590 AISC he gave us in Nov 22, so theres no reconcilation of that to current figures, but he did mention getting down to 1800 maybe, so thats a start.
But as I have said many times here, in the current inflationary environment, its very hard to predict costs maybe he just doesnt want to be drawn on that, and just let the figures fall where they may at reporting time..