It's 8% drop in the last 30 minutes today, Someone must be desperate for cash before Xmas, or have a margin call
Anyway, have to wait till the quater report comes out to see things turn around.
Base on the AGM meeting, we had a good run in last 2 months, so I think the production can achieve 8000oz this quater, that will bring the average cash cost down to $700 AUD, and average gold price $1200 AUD per oz, that is 4M EBITDA, then operation profit should be around 2.8M.
That will bring 11.2M operation profit for the next 4 quarters.
For 34M Market Cap, that make up price / operation profit ratio to 3 !!! ....that's in total discount of the production from Torrecillas and Jaqueira in the future.....plus funding provide by APG to start up production from Crista next year...
Of course, exchange rate and gold price changes will vari the number a bit...but I must be dead wrong...otherwise the market is simply pricing in MUN will stop operation and just sell the mines next year....
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