RE:RE:Conference Calltoroshto wrote:
Mark, what's your take on the CC? I think it was good. The message from management is EDV is transitioning from intense capex into a cash-generating mode. I expect the sp to take off shortly, even under the current dismal gold price. The company has $55 million in cash and its market cap is at $194 million!! Go figure..
True...., but they also have approx 300 million in debt which needs to be paid off starting 2016.
At this time, I am not sure who in their right mind will take the leap into gold miner stocks, no matter how attractive they might be as a contrarian value play. I am concerned that if Gold Price does not recover soon, we might see more impairments to assets which will hurt shareholder value. I listened to the CC and frankly, not impressed !!. They did not mention anything about managing revenues in this gold price environment. They want to focus on decreasing AISC which is always a good idea, but what about the price of Gold ??... What steps have they taken to safeguard the company from a rapidly falling Gold Price ??