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If strong production continues without any more high spending on upgrades to mining setup this can turn profitable by q1 2023 and may in turn pay dividend again very unique that they will continue to offer physical gold
In their last report UTL, which also have a significant holding in rsg, seemed to think that the new management have managed to turn the corner. Let's hope so...
A company in the last 3months has accumulated 28million shares valued at about 7.8 million
A good, detailed review of the business-
https://sprott.com/media/5766/221003-scp-rsg-initiation.pdf
I see that they are getting removed from the asx300 (19th sept) on mcap grounds, missed that one coming... Coupled to the falling pog it is bound to further increase the downward pressure on the sp.
Looking at GEAR's accounts there does not seem to have been any production at Ravenswood. They have had a fund raise and are looking to expand the production capacity at the site (this year?). Hard to see that they can meet the 500koz by 2024 with a target of 200koz p.a. There is however a rather ambiguous fudge in the Ravenswood sale rns about this -
'Payment of the Gold Price Contingent Payment is subject to the cumulative ounces produced from Ravenswood following Financial Close exceeding 500,000oz of gold over the four-year period and is subject to adjustment if the production plan adopted by the Buyer is reduced or lower than expected.'
The last sentence indicates that the production target is also dependent upon a 'production plan' as the exact details of this have never been specified (at least in an rns) it is hard to know how to interpret this.
I have requested the information from both RSG and GEAR but neither have responded. Given that RSG even referred to the A$200 in the presentation in todays rns you would think that they would be a bit clearer as to what the situation is with regards this potential payment(s). I thought that they were now being more open about their finances now but perhaps not....
At some point they will need $100m to go underground at Tabakoroni, I was hoping that some of that would come from the Ravenswood payments but I am not sure that these will happen.
Nice MRE news.
I've dipped my toe back in. The last quarter looked OK and the conference call was very positive about the next. With each management change and better cash flow they seem to be clearing out previous financial 'fudges' which will encourage larger investors (as seen with the recent increased holding by Baker Steel).
They seem to have got the sulphide recovers on track and they are now looking at a higher throughput (to go with an expected announcement of expanded resources?).
I am still trying to find out whether Ravenswood Gold are actually producing gold any yet, anyone know? They need 500k oz before March 2024 if RSG are to get their A$50M, the other criteria (gold price) looks to have been met.
With a proposed annual production of 200koz there is not so much time left.
Indeed.
This share price should be North 50p gold prices are going to hit 2k soon
Keep going :)
I expect it to go well along with most other goldies as gold continues to strengthen.
I mean Centamin produces a similar number of ounces a year (415,000 last year) and is 5x the price currently. The bang for your buck here is unbelievable. Albeit it doesn't have a great track record. But in a much higher gold environment I don't think that matters.
Yup - a somewhat similar story to their HUM neighbours if HUM ever get their **** together.
September looks important to me re the gold price - I virtually expect $2.4k within a year - maybe even this year - which will more than offset miner's rising costs going forward.
Resolute is a high cost producer, but it produces a lot of gold (400,000 oz+ pa), has a lot of gold in the ground, and is very cheap. If the gold price roofs it due to stagflation / bad debts / currency destruction etc, this is a fortune maker.
Testing a breakout here to my eye.
Not bad.
Looking perky again.
PS: Keep an eye on the FX - Gold/Silver is more expensive everywhere with the Dollar flying and everything else bombing (which is why my silver from last year is worth the same now even with c30% off the spot price) - if you're capped in Pounds but earn Dollars then ...
Hi mate.
Someone asked me about this last year and I said I liked 12p - if seen - and here we are ...
I think we all know the score re "sanctions" and the fact they've been magically lifted with RSG & HUM pinned to comedy mcaps given their assets and the forward-read, assuming Gold plays nicely (seems odds-on to me), then I think you have to pencil in 4x bags for both RSG & HUM from the current respective SPs.
https://www.proactiveinvestors.co.uk/companies/news/986609/kitwave-climbs-after-forecasting-significantly-better-than-expected-results-986609.html
cheap bonks?....mcap's a give away....2 mines and nearly a third
RNS - good news - I had to paste it into the HUM board too ffs lol
Well they (barely) tapped the 12p target I shouted quite some months back so let's see - possible dump of Gold in the very short-term that may get us to 9p with a bit of luck but regardless I'm sticking with it as it'll be very short-lived even if it does happen IMO.
The new management is doing so far so good - everything is right. With the share price falling, most analysts turned their back on the name since. the overpriced Toro Gold merger took place. They filled the pocket of the private equity guys and all left the sinking boat like rats.
They cleaned the balance sheet with year-end results (31. December 2021) and the balance sheet should be clean now. The impairments were on the sale of the Bibiani gold mine in Ghana and general adjustments on the carried value of capitalised development costs as assets. Yes, old management left without being made responsible for that mess. In my view, they delivered two excellent quarters, with costs under control. It would be nice to see a strong quarter (end June 22) & gold forwards (63,000 ounces at $1,788 June 2022 & 60,000 ounces at $1,803 September 2022) maturing.
I don't know what investors want to see, good mineralisation at Syma North, look for the updated mineral resource estimate.
updown
222 mill?...probably why its on a 3 year low