I think its a bit early to get too positive. But yes at these prices they will be making money. But they are running out or ore I think end of this month so they need to get something in soon. Shame the mining stopped but they could not forecast prices would be this strong. I think 2.80 USD per pound is probably right (3rd Quarter). Now production I would hope its back up to around 6,000 tonnes as they were supposed to have the equipment in place by July 2017 to improve production rates. Its either we are making 10 million gross profit (still needing to pay interest and other non production costs) assuming a production rate of slightly higher or similar to 2nd quarter. Or we are looking at up to 13/14 million gross profit if production is coming back up (again excluding loan costs and etc).
I feel more confident it will pull through if prices stay over 3 dollars..
TGS Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
