RE:RE:Q1 presentation
kkkrrrr wrote: The numbers are ok but again the high stripping costs..when this will end? ... without the hese stripping costs the numbers would be much better... bottomline is: they are not able being profitable including ALL costs ... thats the reason why the shares are trading at discount to its peers
those stripping costs were expected - "Pre-production stripping activities commenced at Golouma West in February."
anyway, some nice operating results - tonnes mined a new record high, mill througput also a record
"Total tonnes mined during the first quarter were a Company record and 20 percent higher compared to the prior year period mainly due to higher than planned equipment availability and utilization rates for the mining fleet. In the prior year period, mining was focused on Gora Phase 1 and 2, the first production benches of Golouma South, as well as completion of the lower benches of Masato Phase 1 and 2.
Ore grades mined were 64 percent higher than the prior year quarter while ore tonnes mined were 53 percent lower, reflecting the concentration of mining at higher grade and strip ratio deposits in the current year period. Overall ounces mined during the first quarter were above plan while 22 percent lower compared to the prior year period."
regarding costs - "On a unit basis, mining costs for the first quarter were 3 percent higher than the prior year mainly due to higher fuel prices and an increase in operating hours due to the mining of harder material."
and perhaps the most pleasant surprise for me was Niakafiri:
"As a result of the encouraging results at Niakafiri, the Company is reviewing mine sequencing with a view of bringing forward the development of the Niakafiri deposit, which would be expected to increase near term production and cash flows and would allow the deferral of underground development"