Reading between the lines - future expansion The company continues to perform exceptionally well at all mines, meeting guidance as expected.
Three things impressed me in the press release.
- At Haile, the expectation to spend $35 million to $40 million to expand the process plant from 2.2 Mtpa to 3.0 Mtpa. This statement is made before the Haile expansion feasibility study has been completed!
- Brownfield exploration at all sites to assure that each mine continues well into the future.
- Greenfields exploration planned in the Philippines, WKP prospect located north of Waihi and on multiple targets in the Carolinas.
Not mentioned is the expected cash flow that will bring down debt and prepare the company for the next low cost mine.