Q2 Release7 Aug 2019 13:27
Currently got this on my watchlist - Will jump on the stock hopefully tomorrow when i hit my TP.
14,892OZ Mined Q1 - 84% of drilling time. 16% of downtime throughout Q1.
Supported by an Avg Sales price of $1309
Cashflow is an issue Q1 - Struggling to make CAPEX Acquisitions that'd mitigate the 1.54g per TN v a budget of 1.7g per TN - That'll knock onto P&L.
Q2 - The way i see it;
New Gold price of $1400 avg i'd say - That's an additional £1.5M Rev for the company - (Based on last Q figures)
New CFO - Was in place Jan-19 but first few months will be putting out fires.
CAPEX - Better retrieval rate of gold. Bump it from the 1.54g to 1.7g (In the contrary it's small but when you're talking about a 10% retrieval rate that's an additional £2M on that simple fact) was put down to poor machinery - First port of call for a CFO would reduce liabilities - Increase efficiency.
I can see a very nice Q2 report coming out - I'd look at them releasing it later half of the month - But excellent entry price right now.
Please Scrutinizes my numbers & batter me if you think i'm being silly. But it's my thought process.
Happy trading :)