Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Cash magically continues to disappear and profit is elusive as usual. This is not a company. This is a pot of honey for the Russian bear who happens to be in control.Example: All-in Sustaining Costs (AISC?) increased 19%: US$1,220/oz (H1 2019: US$1,029/oz) mainly due to higher TCC as well as an increase in capitalised stripping expenditure at both Pioneer and Malomir.This is all very strange: What decent and profitable miner has such high AISC? What is going on? It does not matter what the price of gold is, there is never much money left. Net debt reduction was minimal: $23M + repayment of the interest-bearing gold prepaid loan of c. $50M = $73MIn 3rd quarter the interest-bearing gold prepays which stood at c.US$72.3m as at 30 September 2020 (US$121.0m as at 30 June 2020), a net decrease of US$48.7m for the third quarter. Not much given the gold price. This should have been below $50M by the end of 3rd quarter. Where is the money going?Well, the interest-bearing gold prepaid loan cost US$6.3M in interest paid in H1. Overall, interest is running at close to $65M per year. This is really harming the profitability of the company.
L3,
$50m debt reduction in a quarter is not that bad. Gold is higher in the second half. I do agree though, they need to get the interest payments down quickly.
Well the report is out and the share price goes down, what more do we need to know, same old.
Temi is worth less than we paid for it. What a surprise!
Working stiff, Temi is worth less than what we paid for it, I don't agree with that either. Please explain your rationale. US$20.6 million fair value gain on the call option to acquire 25% interest in the Group's subsidiary LLC TEMI from its current shareholder as set out in section "Corporate activities" below, reflecting the gold price increase;
Fair value gain doesn't look to me like less. ???
Rusty - did I read it wrong? Oops, sorry.