RE:Why is this dropping hard?i think some people were surprised by the $51 mil drop in cash that was used to pay soto. that $51 mil appeared as current liability in q4 financials. q1 cash was used to pay it down. cash dropped, but current liability dropped also. it is like using cash to pay down debt. nothing is lost when cash cancels liability.
aris total equity actually increased to us$513 mil from us$501.
it was only a fire that decreased production. but even with that fire, q1 production actually increased to 50,903 oz from last year q1 49,864 oz. the difference was that they sold more oz than they produced last q1, while this q1 they sold less than they produced. that 2k oz not sold this q1 will be sold for extra cash in q2.
q1 is always the lowest production q for them after the holidays plus shorter month of feb.
production should be much higher in coming q's according to guidance (and without fire) plus the gold price is higher too. the newly legalized miners at marmato should increase marmato production going forward.
next catalyst is getting permit for lower marmato this summer, and then onward to 400k oz/yr.