Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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In a nutshell I bet a Bird in the is worth two in a bush!
Smoke and mirrors as well don’t think we have sold all the gold produced. Birdy is hold on to some like last time
All disappointed.
Bezant -7.7%
Kendrick -10.0%
Xtract -5.6%
Expecting similar story for AFP when that one gets published.
Pretty clear now that Bushranger is utterly worthless.
As I said last week it makes PI's very suspicious when the company goes into minute detail about things that are historical in the main but continue to be evasive about the important "current" information like the Q2 results.
As Andmillsy pointed out , we know the H1 results because of Empress production numbers yet, despite reams of info we don't get the ONE thing we really wanted.
Why the continued smoke and mirrors on revenue Mr Bird ?
Snap Andmillsy
(Ps: There was still a small amount of 'Alluvials' income in Q1 too: ''The total gold production for these the Other Manica Projects in Q1 2023 was 36Kg (equivalent to approximately 1,156 ounces) of which the Xtract's share was 183 ounces'')
Good news
"Based on the assumption that Fair Bride operates within its targeted parameters and no new business is consummated, the Directors do not anticipate the need for funds to be raised in the twelve-month period from the date of authorising the consolidated information"
Bad news.
No Q2 results which should be good to very good. We got this bit
"results are improving significantly and production for the three months ended 30 June 2023 ("Q2 2023") are expected to show a marked improvement with plant throughput increasing from 30,000 tonnes per month in Q1 2023 to current nameplate capacity of more than 40,000 tonnes per month."
But no hard numbers.
We will need those numbers for any significant sp increase.
Q2 for the below not included in the report 'a pity' .. So some guesstimation work required ..etc
''
Table 3: Gold Production and sales prices - Fair Bride (Xtract 23% share of net profit)
Q1 2023
Tonnes Mined & Processed (tons)
Average grade (g/t)
Au Production (ounces)
Au recovery (%)
Average sales price per ounce in US$
Cost per oz of Au (US$)
''
Report could/should be way more transparent - no idea why production is only up until May. We already know H1 production courtesy of Empress.
Joining some dots
Profit share = £1,669 @ c$1.25 = $2.112 for H1 2023
This is XTR 23% share so overall operating profit for FB = $9.185,000
Production per Empress in H1 was 340kg (see my earlier posts) = 10,931 Troy Oz
So operating profit per oz = $840 per oz. I would assume average gold price of c$1900 so operating cost just over $1000 per oz which is better than I was expecting as included ramp up period.
Its not a bad result but why not make it transparent and promote this ?
Good RNS overall I'd say, a lot of it is old news, no 2nd quarter results just assumptions but I fully expected that.
Bushranger content is good but STILL no conclusions just another process to do. That is the opportunity for Colin to stretch things another 6 months without a DTM.
New project expenses should be covered by earnings ( of which we have no figures past Q1 23) according to CB so no placings.
Nothing to rerate the SP or even move it as there's no reason to "pile in " for a while yet.
Back in the "Worst performing share" drawer.
Cruella, Is xtr getting 23% of Nett profits the same thing as XTR getting 23% of gold produced, at Fairbride?
Not bad
Nm
This is what I wrote yesterday on my group
This post is more of a BIG question ❓ which I need clarification on. I should be able to get the answer when results are reported.
Question I have is costs to XTR in relation to Gold income.
The original agreement between XTR and MMP is
MMP
🔸Build and pay for processing plant
🔸Provide equipment
🔸Pay for operations costs
In return
🔸MMP get 77% of gold produced
XTR get 23% of gold produced
Costs to XTR
🔸6% production tax
🔸0.15% land settlement tax
🔸Team on ground costs which includes salaries, gold pouring, gold sealing transport of gold from mine and security. These costs are more or less fixed. The more gold is produced the lower the All in cost for producing an ounce of gold.
Last year in podcast dear C🎯l said monthly TOG cost was forecasted to be £50k a month.
Based on 66kg a month production & today's gold price of $1908.
Numbers would be:
529oz gold share to XTR
(23% of 66kg)
$1,007,745 Revenue
-$61,976 ( PTax & LSett)
-$50,000 TOG CoSTS
$895,769 gross profit PM
$211 AISC per Oz (tot costs /529 Oz)
$10,749,228 gross profit PA
89% gross profit margin
Before I project forward earnings need to see if the agreement between MMP & XTR has changed.
Oh look whose come out of woodwork DREW
what's not to like about interim?
We know we have Q1 23% of 140kg gold at AISC of $700 an ounce.
Plus may have surprise factor for Q2. This is what I wrote yesterday on my group
"A couple of 500K sells ?"
No. One 500K sell and one buy
1.3p is a buy
about same number of buys and sells
if there was a leak of news (good or bad) we would not be at this volume :)
A couple of 500K sells ?
Good to see we are on same page NTM.
looking forward to results whatever time they will be announced.
Don't forget everyone if NO PR with results then it will take 7 to 10 days for numbers to be updated on likes of Stockopedia etc...
Cr❤️
''My prognosis is he is TIED up in past how things used to be in Smallcap mining sector.''
Very much agreed Cruella
Re release time of results: Agree that 4 pm to 5pm window today seems most likely .. but lunchtime today is a possibility too imho .. that's anytime in the 11 am to 2pm window, per standard lunchtimes in xtr workplace :-)
Oh zap
Thought you were on permanent Sabbatical ❓
Good to see you🥰
CB prefers to release late in day to give the market time overnight or a weekend in this case to fully digest results
Well Hello NTM🌳
If RNS today then best at 1629.
If not then have trust in dear C🎯l that his timing will be spot on.
Perhaps HE should get off HIGH horse and start listening to REAL investors like me❓
My prognosis is he is TIED up in past how things used to be in Smallcap mining sector.
yours cruelly ❤️🩹❤️🩹❤️🩹
The finals were released at 4:16pm, so pretty much the last minute of the last day so I expect this trend to be followed.
It is ridiculous that he can’t arrange for them to be released at 7am, especially as these should contain actual profit from FB which we have waited for years to finally see!
Cheers
James
Not too much to ask to put those interims out this morning, surely ?! They may come during the day today or otherwise will on Monday.. but it's just CB trying to stage manage things .. he continually does this across sundry aspects of updating on xtr ....and generally does that stage managing badly too.. That man is a law onto himself ...and thinks he's far cleverer than he actually is..
Still I like the assets here.. and the fundamentals, in the round, seem to justify a much higher s/p .. IMHO and DYOR
I would love to sell BUT 50 % odd adrift , £37 k down on paper !!!have made better decisions in my life
Looks like someone had to sell or is it Joel selling because he's seen the report?
Bella for my bestie number ONE JEZ👠❤️🌹