"was actually $US369mil at 30Sep15 - so I'm afraid your estimate is way off there. And their net debt is now $US245mil (glad to see you've corrected that)."
I was working from memory. I'll take your figure as being correct so AQG swung from being cash positive with no debt and $US 369 million in the bank to having net debt of $US245 million which represents a draw down to build the Copler project (which is not yet at commercial production) of $US 614 million = $A 859 million.
If RSG had bled this much cash to build Syama the people on these threads would be beside themselves, probably locked up in mental asylums but the AQG fan crowd don't mind coming to RSG threads to shout blue murder about how much RSG is bleeding.
RSG is about 4 months away from reaching steady state production from Syama and had net debt of less than $100 million at 31 Dec 2018. If they achieve steady state by the end of June as expected the capital spend will stop and they will have far less debt than AQG. It will then just be another 12 to 18 months to get AISC down to the DFS level of $US746/oz once the low carbon roaster project and the power solution project is completed.
No one is asking you or anyone else to invest here. I'm actually sick of this RSG v AQG argument.
I'd say most RSG holders don't care about AQG. I'm certainly not interested just due to the geopolitical situation with Turkey. It's off my investment destination listed based purely on its political and economic problems alone. Esh
RSG Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
(20min delay)
