The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Yes looking to the future, it all seems amazing. If ( and its a big if) we can maintain the current production rates even without Rhum 3 our 2019 production will be over 50% higher than 2018, and with a lot of fixed costs our profit levels will go through the roof!
Looking on the bright side, at least one of the main assets from the santos deal is performing well, from yesterdays PMO update "In Vietnam, Premier's operated Chim Sáo field continues to outperform with production averaging 15.6 kboepd, up on the prior corresponding period and above budget. This strong performance was driven by high operating efficiency of around 95 per cent and on-going well intervention programmes offsetting natural decline"
The results always were going to be a bit of a car crash, but at least all the bad stuff was forewarned, and theres plenty to look forward too, This financial year is the one they need to start delivering on. I my opinion, to attempt to pay any level of divi would have been foolhardy with the current levels of debt.
It does seem that the pieces are coming together to form a more robust, low cost gold miner and I will certainly be keeping my shares with a view to them reinstating the divi next year, and hopefully a share price above 10p.
Can we finally break the 8p barrier and stay above at the finish? Everything seems to be falling into place to become highly profitable again, if we were operating in a more mining friendly environment we would be closer to 20p than 10p.
IMO.
The BTRP regrind mill should be commissioning this week which will help enhance recovery a bit, every little helps as they say. Hopefully the share price has bottomed out now and we should get a steady climb as production increases
The new presentation on the website http://www.serica-energy.com/presentations adds a little more information
IsolatedBod, The Manor was a special ground, very quirky with its sloping pitch, happy days. Unfortunately PAF and oufc are both trending a downward path atm.! Ive held these for years and have happily taken the dividend along the way, I guess we will have to wait and see what the next update says if it drops much lower I may be tempted to add a few, as its a well run company and with the tailings side expanding the base of low cost production it should be able to weather the storm
Mommur, I believe that if the Lomond/Chryasor route is taken the additional condensate from Columbus will help negate some of the waxing issues and help to extend the economic life of all three platforms. There does seem to be some background reason for the delay in agreeing this route as on paper it is easily the most sensible option.