RE:RNC Minerals Q3 '19 Conference call - Date: Nov. 6, 2019 Pierre,
Thanks for posting today's NR.
Take away points:
- Not bad a financial result. There is a small loss ($0.255M), but it could be considered as a break-even Q3, given the conservatism used in the reporting.
- Realized price is a bit low (US$1339/oz). Hopefully they could get it closer to 1500/oz, in the next quarter, for a better profit margin.
- AISC: US$1183/oz, including note 2, compared to US$ 971/oz. Someone should ask Paul Huet for the difference.
- The 5000oz (3200 +1750) coarse gold recovered in Sep and Oct are being fed to the mill "at a measured rate", but presumably this has not been included in the production at the end of Q3. Paul should clarify this.
- Q4 is expected to yield 42,000 oz - 49000 oz, with a large chunk already booked for this period, hence additional production for to meet the above target should be doable. However, some explanation from Paul is needed.
- Cash balance (~$25M) at the end of the quarter is good. Spare cash is always good.
Hope that some of the questions above would be clarified during the conference call. But in general term, RNX is heading in the right direction.
GH11
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