Agree with your estimates as well. I think we may even see a...

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WhiteRhino

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15/01/19

10:41

Post #: 37116272
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Originally posted by speculator101: ↑

Hey WR,
my guess is the March quarter will be smoothed out as compared to the above, as commissioning has slipped a couple of weeks, plus stripping etc will only begin at the end of the quarter.
I am hopeful that the Mar Q will be similar to the Dec quarter, which should see them produce around 23k (but likely sell at least 23k or more), but with slightly less margins, so perhaps $450 an ounce, so $10.3m. Which should see them sit as you say, around $18m in cash available. As they will be spending perhaps $3m on exploration and another $6-7m on the plant upgrade.
I think MOY will need to explain to the market how important being able to increase the recovery rates for the sulfides are to ensure that the upside is clear for all to see.
The extra 100k in reserves, should be just the beginning, with another 100k added before years end.
Really looking forward to the drilling results, as that will be the last bits of info needed to finish off the reserve/resource update in Feb.

The muted price action is not surprising, but I think it will quickly change in the coming weeks.

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Agree with your estimates as well. I think we may even see a re-draw of the debt facility. Seems the sulphide expansion will be in the vicinity of $20M-$25M, but is a significant investment in the future. Hoping for increase in production guidance after commissioning.
Hoping we can maybe look to add another 200,000oz to reserves before years end.

MOY Price at posting: 19.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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