If production is similar to last Q then cash burn of c. $500k - $600k next Q. But as Plough commented, a lot of the development likely to be in country rock so no gold there.
They developed 103m last Q but with additional miner/ trucker and 2 x 40t trucks that rate will hopefully improve to the 130m required to get to the 1080 stoping position this Q. Not sure on the orientation of the Western Reef and how this ties into the production profile.
Goldies all sold off hard today including ORS. Maybe getting out whilst liquidity is still present but at close MC is $5.3m or an EV of c. $4.5m (ignoring the $1.3m cash that is held for reclaimation bonds and assuming one month cash burn). Seems a bit low but this depends on ORS becoming profitable.
I recall that gold/ miners bottomed around this time last year but of course ORS now need to step up after disappointing this Q.
Cheers
John
ORS Price at posting:
3.1¢ Sentiment: None Disclosure: Held
