Metal Prices I recorded 12/2/21 - Todays PricesAu $2265Ag $35 Cu11,570 Zn 3713, Pb 2757 Metal Prices I recorded 14/1/22 - TodaysPricesAu $2503Ag $31.75Cu 13,693Zn 4912 Pb 3197
If the company isn't making and banking a substantial profit now, then it is hard to ever see it doing so. I say this because we must be banking a fortune from metal sales, but if we aren't making a substantial profit, then we must also be spending a fortune. So it depends on the culture the Board sets. The reason we need to bank money now is because if we have to spend 10s of millions on the Hera mill or building a new one, then we will need $$$$. I must disagree with cashmeoutside's comment "now you've had Dargues get back on track". In fairness he could be saying mining profitably but Dragues has never been on track. It was meant to deliver 5.7g/t over LOM and the highest it has hit is 3.91g/t and it owes us an extra $20-30 million in costs. The average grade I think has been down graded twice 5.7g/t to 5.1g/t then to 5g/t. The total predicted quantity was 202koz so that now becomes 177koz. 177oz over LOM leaves us with a net loss which would now approach $50 million. The latest drill results don't add much because most good hits were infill while the few reasonable new areas may actually not be economic to get to. At the moment Dragues continues to be just that.
AMI Price at posting:
45.8¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)