Firering Strategic Minerals: From explorer to producer. Watch the video here.
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What kind of results do you feel we will get ?
This is my guess -
Production 107000oz
AISC hopefully below 1400
Gold sold 105000 @ 1830
Revenue US$192,000,000
Fingers crossed bear.
Hold on to your hats
Why, there won't be any big surprise
no alarms and no surprises....
on target
unhedged and debt free
lets see how the market reacts.
Not too bad, steady going
Yes no surprises, the metric that I always worry about most aisc is now likely to be at high end of 1275-1425 which at these gold prices might give near £50m profit afte the Emra share, so considerably lower than historical and even at this fallen share price a higher PE than historical, in expectation of better times. All depends on those costs going down, and faster than gold does , I wonder if there will be much market reaction as all this is known?
This quarter $1357/oz
For rest of 2022:
· AISC of US$1,275-1,425/oz sold. Given the current inflationary operating environment we continue to monitor consumables pricing and review opportunities to offset price increases with cost savings initiatives such as the solar power plant
Solid and clear update
big concern is the AISC - US$150.7million this quarter and that's with 20m less capex in it than Q1.
Production v good on the bright side.
apologies, 4.1m less capex than Q1
Sotolo thoroughly agree AISC at the higher end of $1275 to $1425 is a worry and how much of this is caused by the Capital waste project? There again a necessary evil and is this an ongoing cost with strip ratio closer to reality than earlier years where cut backs kept to a minimum?
Guess we won't know until 2024 when the waste contract has come to an end.
Hopefully the solar will help bring down costs. There was something about connecting to the National grid?? I wonder if that is just about going over to more electric because of fuel costs or actualy feeding into the national grid?
Also I saw mention of taking delivery of some more of the alloy bodied trucks, so that should help. I would assume that the more waste from that pile they shift, it should get easier, quicker, cheaper?
I'll admit I dont really know how to read the figures, but it looks like Martin Horgan is just trying to keep things steady, regarding the RNS and there are no extravagant promises or last minute kicks in the nuts like we have had previously.
Obviously we could do with the price of gold rising and us hitting some good good grades along the way would help.
I find it hard to understand why gold isnt higher, especially with inflation running amok.
Next stop, detailed half-year financials and declaration of the interim dividend on 4 August 2022.
Hi Paul - the mine is fully off grid and all of its energy is provided by burning 200 million litres of diesel a year - to power the trucks and plant but also to generate electricity. This is inefficient, polluting, expensive and about as bad as it gets from a carbon emissions pov. The only way to be less green I can think of would be to build a coal-fired power station on site. Solar will save 20million litres of diesel per annum, which is great but still leaves a 180m litre fuel bill. Grid connection would eradicate diesel generation of electricity - cheaper, more efficient and significantly greener. No-one asked how much fuel it would save - I'd like to know the answer to that.
Thanks 3bear :-)
From Proactive this morning.
https://youtu.be/PjwAujgTDUM
to answer my own question diesel consumption for electrical generation was reported as 90-100m litres a year in 2020.
Cey is currently paying the Egyptian government 80c/litre for diesel so around US$80m a year on electrical generation alone. Solar ought to reduce that by around US$16m but connection to the grid would remove the remaining $64m dollar cost - although this would be replaced by a cost of buying 120MW of juice every year from the grid. There's also the fixed cost of building the power line out to the mine.