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All included. but the important part is. that the debt is wiped popout going forward and this will help the bottom line to the tune of $4 mill this year, pure profit..
Darien you would also need to adjust for the debt interest dispute as well as the increased taxes (I believe I read about these somewhere).
Year end number out next thursday. I'm going for :
Revenue $167 mill,
GP $97 mill
Op profit $58 mill
PBT $43 mill
that would work
Gold ripping up again more funds in the coffers.
Nearly £2 mill per annum of debt interest wont be paid from now on..
It may have gone unnoticed from our Q1 results that our AISC was only $1051 per ounce, the 1st month of Q2 the gold price has averaged $2341 per ounce so if we have ran the mine in the same manor as Q1 we have been making $1290 per ounce clear profit.
If we have matched the 23k ounce production of Q1 we have made $9.89 million in April…….$325k per day.
Let that soak in and it blows my mind, this is not paying off debts, it’s clear profit, Q2 is going to be the quarter that wakes the market up to the unbelievable levels of cash generation in play.
I totally agree Smoothbrain, and hopefully Darren does as well. GLA
I would rather as much mine expansion land as possible is bought with the current expected output and stabilise a larger business less focused on gold alone.
Might be a sweetener for a certain party to make all happy poss?
1p divi where going to be throwing off cash right now
Just to be clear about our 4 years reserves, Darren Bowden stated in an interview in Feb and said the last 4 years gold reserves at Runruno have gold
grades of between 1.4g/t and 1.2g/t averaging 1.29g/t gold over the 4 years, he also stated that there was a few months additional reserves found from additional drilling, these are the words of Darren Bowden and I take his word over any other party.
Those grades are typical of recent recoveries and so we can expect 20k ounce plus quarters for the rest of the mine life.
The debt was cleared 25th March.
Cash in the bank at 31st March $1.1m.
FCF running at approx $21m / quarter so cash in the bank at 30th April would be around $8m.
Earlier comments re. capex for new mine. We have already paid for the processing plant, fleet of mining vehicles, office buildings and equipment, etc. This will all be packed up and transported to the new mine site.
The £300m of FCF that will be generated by the current reserves over the next four years could pay for all that equipment with cash to spare but why should we? We have already purchased it once, no need to buy it all again.
Am I correct in thinking that all debt cleared as of 31 Mar and now cash in bank or gold equivalent is rising approx £225000 daily and so as of now(30 days later) free cash in back is approximately £6,500000 and rising daily?
Dividends have been specifically ruled out by DB for now.
Doubt there will be a special divi but they may start to pay a divi at 5% level now that the debt is cleared and they are making free cash flow every qtr. The newly acquired mine/tenement will take a fair bit of cash resources to get up and running and this will hopefully make up for any reduction in production of the current mine . All looks good. Free cash flow for first qtr was $21 mill on an average gold price of 2050 oer oz, its now at 2300.. so generating cash hand over fist now. on a market cap of just £117 mill..
Yes one off special maybe in results
Pretty sure you said that last time and total mined gold and recovery went up. I fear the day when you warn us about good results.
Forget divis and stop all the ramping
Mtl has very limited mine life and production and grade is set to sharply drop. They need to spend capex to find more ore
This has been ruled out as DB wants the cash to build the company and get the next mine going. I guess we can't rule out a one off gesture, but regular ones aren't on the cards for now
Would like this must be on the cards now
Also a share split and change of name might also be usefull to keep the pesky day traders away
Https://www.bbc.co.uk/news/world-asia-68852451
This weather should make mining even more efficient if not having to stop for traditional rainy season disruptions.
Just 2 weeks until block buster year end results
This has been the pattern the last few quarters nimrod, solid updates followed by the profit takers/ sell the news brigade and then slow and steady rises to the next leg. Top up territory for sure - all GOOD!
Candy already has accepted the 7% rate and MTL have already paid off the loan as far as they are concerned, Edwards is basically being given his 7% and if he wants 15% he will have to fight for it, but it looks like a lost cause for him with MTL having written legal agreements and Candy has followed those agreements and already accepted taking 7% interest.
Cracking day all in all, bring on Q2 and news on the Abra tenement.
There was some profit taking going on today which will have held the price back. SP could have easily have been higher on such an excellent update. Maybe the buyers will return tomorrow.
12m Forecast Rolling PE Ratio (f) 4.5. Metals Exploration's PE Ratio (f) is ranked 5th out of 44 companies in the Metals & Mining market.
Strange that the two parties to the loan agreement would have different interpretations of it. Did I read some months ago that Candy's reduction of the loan interest rate was dependent on RHL doing the same? No mention of that in the recent RNS but it's hard to imagine the two factions accepting different rates.