Review of Update,Free Cash Flowing + exceeding expectations Just about everything we could wish for in the update, I will do the math for Dec production. Just as guessed/hoped on fire, no effect on production as we have stockpiles, just some temp road closures due to smoke. Everything back to 100% already (better than guessed).
The cash oh my, "our cash position to $34 million at year end, $9 million higher than $25 million at September 30, 2019." music to our ears they are free cash flowing $3 million a month and that is at the lower gold prices, Jan should be even better. So from what we know $40 millionish FCF a year. At current prices that makes RNKLF have one of the best FCF ratios out there for miners.
Their trailing 12 month FCF was negative $28 millon now their run rate is $40 million positive 225/40 = 5.6 Price/FCF from the best we know in January.
Compare to Barrick 33 P/FCF, PVG = 17.5, KL =30, GDXJ has negative PE do not see FCF but top gold stock in it Kinross Free Cash Flow -76.91M(Negative), and 2nd biggest in GDXJ is also an Aussie Northern Star and its at 166 P/FCF. The only gold miner that I can find that has has as good a P/FCF (from what we can tell now in RNKLF #s) is TPRFF (Gran) which is my 2nd biggest gold stock. WHAT A TURNAROUND! And they are paying down debt early to boot.
Math Dec = 26,874 - 9485 - 7769 =9,620ozDec =115,420oz annual rate, again exceeding expectations. Great job all around RNC team!
Happy New Year