Ann: Quarterly Activities Report, page-24

Just a few facts from today’s announcement.

As at 31 December 2018, total borrowings were A$173m comprising US$100m drawdown on the Facility and the net balance of the Company’s unsecured overdraft facility with the Bank of Mali and in-country receivables.

Total cash bullion and listed investments = $116.6m

173m (total debt) - 116.6m (liquid assets) = a Current debt of = 56.4m

Present Revenue....

Quote:
Successful Start-Up of Syama Sublevel Cave
Gold production of 74koz; up 33% on prior quarter All-in-Sustaining-Cost of A$1,360/oz (US$975/oz); down 13% on prior quarter

Maths:

Current gold price $1820 = margin of A$460

74koz x $460 = $34m per quarter..

My Summary:

Hopefully the tide has truely turned and we can start to get back in the green...
we are ramping up... each quarter from here should be lower ASIC and better production...


IMO they won’t need to do a CR as they have just increased their credit facility another $50m to give them greater flexibility.


JW made it clear last year the capex spend was nearing completion... we won’t see anywhere near the spend next quarterly....


Exciting times ahead.