Member Info for Schmidt1

Hello,

So if they produce 95,000 ounces but only pour 10,000 ounces, would that be completely okay with you?

Did you notice that the company only made $23 million in sales in Q4/23?

In Q1 it was only USD 33 million...

I think it's important to ask yourself questions like this...

net debt has been almost the same for a year...

So I think it's justified to question certain things...

And if we only generated USD 40 million in sales in Q2/24 then I'll be skeptical...

Have you ever asked yourself why the course is where it is? yes, because the past numbers simply weren't good.

I bought the company because I'm looking to the future, but the company has to deliver now and it will only do that if the sales are right and the cash increases...

now we have to wait for August...

Only when the balance sheet improves will the price rise. Before that, everything is speculation.

I am a THX shareholder myself and that is precisely why it is important to question certain things critically.

Best regards

Hello everyone,

16,500 ounces were poured in Q4/23.

Only 11,900 ounces were sold.

18,500 were cast in Q1/24.

Only 17,500 ounces were sold.

Why such a big difference?

Surely they could have sold the gold from Q4/23 in Q1?

I am aware that there may be differences due to later deliveries. But so clearly?

Maybe someone has a conclusive answer for me

Best regards

Hello bigbitenow,

Thank you for your analysis, which I would only like to contradict on one point...

Production in H1 was 37,600 ounces.

These can be found in the table in yesterday's message...

Q1: 19589 ounces

Q2: 18090 ounces

we have to differentiate between gold poured and gold recovered.

Best regards

Hello TO73,

I think your criticism is partly justified.

How many times have I been disappointed by a CEO in this industry...

The important thing now is the financial results at the end of August...

the poured ounces must simply have been sold too...

we need sales in the range of 50 million USD...

the Q1 financial results were already very irritating with these strangely low AISC...

Nevertheless, the fact is that they paid off USD 7.9 million in debt and with a cash balance of USD 2.8 million at the end of Q1, at least USD 5.1 million in free cash flow must have been achieved...

And yes, THX only produced 37600 ounces in H1....

They will never be able to produce 95,000 ounces in 2024...

Nevertheless, there is enormous potential here, even if the company only produces and sells 46K in H2...

that would mean a free cash flow of more than 50 million USD...

Best regards

They had to reduce throughput to mine the gold in the CIL...

Now you have to adjust the mill to both increase the throughput again and at the same time reduce the gold in the CIL.

That's the challenge...

At the same time, they now have a pile of gold in front of the mill that they have to process...

Best regards

Hello:-)

They took 491K tons out of the tunnel but only processed 174K tons in the mill...

in previous quarters this number was around 240K tons...

This meant they could only produce 18K ounces...

The fact is, if they can now get the throughput back to previous levels and at the same time mine the gold from the CIL, then we can expect almost 30K ounces of gold poured in Q3 and Q4...

However, I don't think this will be possible in Q3...

If we assume 23K ounces of gold produced and 3K from the CIL, it would still be 26K ounces that were cast and, most importantly, hopefully sold.

Difficult numbers...

The positive thing is that they are getting the gold out of the circulation that had built up in the previous quarters.

The negative thing is that this meant they had to reduce the throughput of the mill...

In other words, they only produced 18K ounces.

Together with the 3.7K from the gold in the circuit, they poured at least 21.7K gold, which they hopefully also sold...

Lt. CEO, the mill's throughput will be ramped up again in Q3 and at the same time the gold in the CIL will continue to be mined...let's see...

If you actually sold those ounces this quarter, the revenue should still be $50 million...

The FCF this quarter would then be around USD 20 million and that would still be strong...

In fact, they paid off $7.9 million in debt this quarter.

At the end of Q1 they had $2.8 million in cash so they generated at least $5.1 free cash and I don't expect the cash balance to be at 0 at the end of Q2...

You can forget about the 95K ounce forecast...

Maybe they can manage to pour 95K due to the 12K ounces in the CIL but producing 95K is no longer possible...

Despite everything, the company is worth 120 million USD and the free cash flow should be at least 80 million in 2024 if the mill has been adjusted correctly for Q3 and Q4...

Best regards