TBR/RND processed and produced over 55,000 ounces of gold
They made $16.4m NPAT , but the real position would have been substantially greater than this , had we sold all the gold processed.
Sales amounted to $56.4m and if we assume we realise $1550 per ounce that means we sold 36,400 ounces leaving 18,600 ounces or some $28.8m of unsold gold
True NPAT could have been around $35m plus .
I do not think we will process this much gold for the second half and assume only around 25 to 30,000 ounces.
We sit with around $170m in bullion in the group.
Little news on the exploration work on the ekjv, yet reports gleem of up to 1341g/t
No news on Ghana yet we proved up a jorc resource of over 200,000 ounces, with some hits of 12m at 31g/t
Just being downplayed.
WHY??????
TBR Price at posting:
$1.30 Sentiment: Buy Disclosure: Held
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