$1.77 eps, $21.3m EBITDA$1.77 eps for a $1.40 stock. Ok there was a non-cash gain, but there were $5m non-cash charges every quarter because of the debs, and the financial sites counted those non-cash charges, so it is only fair that the non-cash gain is counted too.
Extended mine life by 4 years to 2026.
Record production 46,075 oz.
Cash cost $676, AISC $884, a drop from previous Q. Higher capex is making AISC higher than usual.
Nice increase in EBITDA to $21.3m from $13.6 of Q1.
I was hoping for more cash but this is still the best quarter they have had so far. Some things that reduced the cash was
- they sold almost 1k oz less than they produced.
- income tax paid $7.6m, even more than $6m of Q1 (they said in CC that they pay more income tax in H1 than H2 so hopefully there will be a drop in H2)
- Additions to mining interests was even higher in Q2 of $6.4 from Q1 of $4.8m which was already higher than previous quarters. They are spending a lot on capex. Hopefully this will drop when some of their projects are completed. They have the ability to save cash by deferring some projects as they said in previous news release.