RE:RE:RE:RE:I just received my notice of "Annual Meeting"!AngryChihuahua wrote: Goldbug52 wrote: AngryChihuahua wrote: Goldbug52 wrote: It contains some amazing facts! I'm going to transcribe a couple of them verbatim: "Exploration success during the year included significantly extending the South Mine Complex to both the east and west and intersecting high grade zones along the Amalgamated Break at Macassa and significantly extending mineralized structures and intersecting quartz with visible gold mineralization at MULTIPLE locations at Fosterville, (for those worried about the Swan Zone being the end all of KL's Australian riches)."
What really caught my eye was the following info: "Detour lake has already demonstrated it's value potential, producing 91,555 ounces in the two months from January 31, 2020 to the end of the first qtr. Very significantly, the mine generated$78.0 million of free cash flow over the same two months, representing approximately 40% of our total free cash flow for the first quarter of 2020."
That there last part is the amazing thing, 40% of their free cash flow while producing only, maybe 30% of their gold for the qtr! If this doesn't show you the value of their much maligned buyout of Detour, all I have to say is, you shouldn't be investing here!
There's some other interesting stuff in the circular but these two points alone bring a huge smile to my face! " :-)) !! :-))) !!!
I hate to break it to you 52 but dgc does about 600,000 oz a year so 2 months normal production is 100,000 oz, just above what they produced for Feb and Mar. As for visible gold its nice but doesnt say much about Swan. Macassa looks good. In short nothing new.
Chinchilla
And two months of their production 100,000 oz, is only about 30% of the qtr's but contributed 40% of their free cash flow is insignificant? If you don't see it than there's no hope for you! Good luck with your Barrick :-)) !!
100000 oz would be 2/3 of a quarter or 66.67% not 30%. Once again you dont know how to count.
Chin
They produced 330,000 oz during the qtr and Detour only contributed 91,000 oz so probably less than 30% !!