The forward estimates of production and costs for 2021 suggest...

The forward estimates of production and costs for 2021 suggest to me that while OGC will be making money from its operations, this will not be enough to meet its high capex and exploration expenditure and therefore net debt will be higher by the end of 2021 at the current USD POG of 1737.

If, as I believe, the gold price further weakens in the first halve of 2021 then there will be further pressure on the share price.

I suspect the only thing stopping the share price from now being a lot closer to $1.50 is the expectation that there will be a favourable resolution of the Depidio dispute. I wonder how much it would cost to re-start the mine and what that would add to the level of net debt. If the terms of this settlement are OK then Dipidio should be a strong contributor in bringing debt down once its fully operational.

loki