RE:$113,797,271 of liabilities in 2021 This would be pathetic but difficult to have a clear view of the cash flow up to end June. Obviously, POG is a key component until issues are fixed.
In terms of short term liabilities : 114M CAD within 12 months, so end September 2021. But what amount is due and when ?
Composition of the 114M : 60.8M accounts payables (26.8M trade payable + 27.9M accrued liab. + 6M payroll related liab.) + 0.7M lease liabilities + 52.3M debt repayment.
Debt repayment is scheduled quarterly and began in May... So within a year we have 11.2020 / 02.2021 / 05.2021 / 08.2021 -> 13.08M each.
So, assuming 60.8M are due within 3M, They need another 13M for the debt. so about 74M to pay by end December.
With 39M cash at end Sept. and sssuming they meet their lower forecast production H2 with higher AISC H2; we should have 4Q as follows:
37'000 oz with AISC of 1600 CAD. With an average POG of CAD 2400 (USD 1850), they should have 25-30M CAD positive cash flow.
By end March, they should have fixed all isues and as a consequence, we should expect very good Q2 numbers.
Regarding Q1, what kind of numbers can we expect in termps of oz produced ? I understand that stacking is stopped but not the Gold recovery. Last year, they produced 10.5K oz,and operations were just beginning. Shouldn't they be able to produce at least 10K per months ?