Production Guidance Increased Again 144,000 to 150,000 oz Company is increasing its annual production guidance for 2016 to a total of 144,000 to 150,000 ounces of gold. Next year should increase to 160K oz since that is their current production rate.
Earning (adj) more than doubles from $3.9m to $8.1m
EBITDA (adj) increased from $18.3m to $19.7m
Net income for first 9 months was $0.12 per share ($0.08 per share adj). Not bad for a 10c stock.
Normally one would expect the share prices to increase by their earning per share every quarter, but not here because GCM is special :-)
Capex investment added to AISC as expected but still under $900 which is good.
Extra $4m cash VAT refund received in Oct. which goes to Q4.
As expected, they used cash for capex investment. When they finish with this in 1.5 months their cash should increase. Cash also used for 10,000 meter drill program. Hopefully news of high grade drill results will appear soon to make GCM shoot up hard like CUM_T.