Biliani sale15 Dec 2020 15:11
This is for $105M, going forward, they have the potential to realise a further $188M from the Ravenswood sale. They have at least A$50M in equity stakes in exploration companies(Oklo/Orca/Loncor/Manas/Mali lithium), plus a joint exploration project with Toya which is due to report soon.
Net debt was $234M at the last update.
They will need about $90M for the Tabakoroni development (but not yet), this should be covered the the Bibiani sale and so eliminate the need for an equity raise.
The new power plant battery storage is due to be commissioned soon which should reduce costs on the sulphide circuit, this is where the ASIC has always been high so it could make a significant difference ( note- Aggreko get half of the value of the energy savings, not always clearly flagged by rsg…)
Hopefully they have been managing to sell gold for more than it costs to mine it this quarter, so I have decided to tentatively start a holding here again. On average I have done little better than break even on this in the past, hope to do a bit better this time!