Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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"The 3 analysts offering 12 month price targets for Resolute Mining Ltd have a median target of 31.65, with a high estimate of 33.23 and a low estimate of 27.69. The median estimate represents a 52.14% increase from the last price of 20.80."
Guess the tip in I.C. magazine today has helped.
Makes the 30p new broker price seem cheap.
Yep looks a very strong case to continue to load up at these levels
Taking lower end production from 2024 guidance (345,000 - 365,000 oz) and higher end costs from expected AISC ($1,300 -1,400/oz) with a gold price of $2,200 going forward RSG are making $75m gross each quarter. Would not be surprised if they end the year with gold bullion / cash on the balance sheet equivalent to half their current market cap.
This has to break out soon gold $2200 now
Cash and bullion holding worth £100m at these prices
I see your trade has just shown up
I’m sure you’ll do very well. Surprised it’s this low still. Once they start a dividend it will go further but until then it should still be in the 30’s. And if gold does motor on to 3000 the profits will rocket. Dollar is only going to fall over the years to come and interest rates will come back down sooner or later.
Considering it is back to profit making and net cash rsg has a lot going for it over the next few years.
Do you have any price target in mind? I’m looking for 70p but I’d expect that to take 2 years.
I actually took £70k odd don’t think it’s shown up unless they putting it through as smaller chunks
Was that £16k trade yours?
Hi All - had this on my radar for a while , finally pushed the button today after freeing up a chunk - looking forward to seeing this perform :)
Don’t mind me I’m just waking up. I get what you mean. Yeah should easily do that
Ahh ok million, not billion.
In fact the market value has already risen by c. £25m in the past 24 hours. Gains not limited here either, sector beginning to pick up
42trader it's only another 20% from here, Resolute is capped at approx £425m
Some nice trades going through today.
Not so sure about 1/2 billion market cap. That would be a 10 bagger!
Gold futures almost up to $2,150/oz! The margins are rising faster here than many other producers in percentage terms which coupled with the recent balance sheet transformation should propel the market value to at least the half billion range.
Had a funny feeling the drop yesterday was the clear out of a seller. Was just going to raid my isa to buy some more but too slow.
Https://www.ft.com/content/6430d8db-a9cb-45cb-8ce9-5686a462152a
Ideal targets for buyout
Thanks.
Production to increase.
ASIC to decrease.
Cash gone from -229m to +14m.
All looking good for the company. Gold price doing well staying above 2000. It may well drop being at record highs but I'd guess it is likely to rise higher in time as the Dollar is only likely to decrease in time and interest rates are likely to lower. Both the Dollar dropping and lower interest rates will almost certainly be good for gold to rise.
Broker target of about 60p, which is a little conservative imo.
Only negative I see is it looks like someone is selling, which only makes a buying opportunity.
Resolute gold production guidance of 345,000/365,000oz at an AISC of $1,300/1,400/oz.
New presentation
https://www.rml.com.au/wp-content/uploads/2024/01/Q4-2023-Presentation-1.pdf
Agree that’s it’s under valued. It will take time to rerate imo but it will. Added today.
Canaccord Genuity's updated research into precious metals companies up to the 30.01.24 posted on Hot Copper shows just how undervalued Resolute Mining is at today's share price.
EV / EBITDA 2024 estimate: 1.23 dropping to just 0.76 in 2025
Price / NAV: 0.38
FCF Yield 2025 estimate: 29.9%
Analyst Target price: AUD $1.15 (60p equivalent)
The positives in 2023
- Turned cash positive, reducing net debt by $45.6 million in 2023 with year end net cash of $14 million
- Declared a maiden Ore Reserve at Syama North
- Undertook first phase of Syama expansion funded out of free cash flow
- Mako outperformed exceeding its 117 koz full-year guidance
- Exploration success in both Senegal and Guinea
- Q4 improvement in underground grades
The not so positives
- Q2 and Q3 2023 production challenges owing to lower grades
- Mako gold production expected to be weighted towards H2 (approximately 55%) in 2024
Catalysts
- Phase I Expansion / Syama Sulphide Conversion Project (SSCP) on track for commissioning in H1 2025
- Exploratory work at Mako to extend mine life beyond 2026
- Q4 2023 gold poured of 80,307 oz (Q3 2023: 74,056 oz)
- Q4 2023 AISC of $1,480/oz (Q3 2023: $1,459/oz)
- Q4 2023 revenue of approximately $155 million generated from gold sales of 79,480oz at an average realised gold price of $1,954/oz (Q3 2023: 76,524oz at an average realised gold price of $1,917/oz)
Q4 2023 operating cash flows of $30.8 million (Q3 2022: $22.8 million for Q3)
- Full-year group gold production: 330,994 oz (FY 2022: 353,069oz)
- Group 2023 All-In Sustaining Cost (AISC) of $1,470/oz (2022: $1,498/oz)
- Unaudited 2023 revenue of approximately $630 million ($651 million in 2022)
- Full-year 2023 operating cash flows of $142.0 million (FY 2022: $90.9 million)
- Full year 2023 EBITDA of approximately $165 million (FY 2022: $148 million)
- Net Cash of $14.0 million (Q3 2022: $2.2 million) including Cash and Bullion of $85.2 million
- 2023 Capital Expenditure of $70.4 million (2022: $66.2 million)
2024 Guidance
· 2024 Group production guidance of 345,000 - 365,000 oz at an AISC of $1,300 -1,400/oz
· 2024 Group capital expenditure guidance of $115-145 million split between Syama, Mako and Exploration of $90-110 million, $15-20 million and $10-15 million respectively