I wish i could imagine $2.80 buyback never happen again....Had only $6M cash, even not enough til end of year. How much STGO need for ordering cyanide? CEO said we'll double order, get as much as can in stockpile. Around $500k ? Means STGO had only $5.5M free cash enough for only til end of Sept. ($5.5M / $1.5 monthly cashburn=3)
Everything collateralized in local financial institutions, even gold they produced. CFO dreaming about raise US$ 200.0M based on $37.M asset...Hah...impossible...low CAPEX, spent more on OPEX...Admin G&A cost increased 3X since production startup....Aneel explained we've more staffs. Fu'ck hell, why STGO need such COPs (cost only person)...failed in simple math - realized gold price...then more more staffs there
I'm not expecting a miracle in this year, but next year i'm expecting much horrible events, sell company to someone like did it before in Hunnu coal.