Procter & Gamble Co T.PG

Primary Symbol: PG Alternate Symbol(s): N.PG

Consumer Defensive Household & Personal Products

The Procter & Gamble Company is focused on providing branded consumer packaged goods to consumers across the world. The Company’s segments include Beauty, Grooming, Health Care, Fabric & Home Care and Baby, Feminine & Family Care. The Company’s products are sold in approximately 180 countries and territories primarily through mass merchandisers, e-commerce, including social commerce channels, grocery stores, membership club stores, drug stores, department stores, distributors, wholesalers, specialty beauty stores, including airport duty-free stores), high-frequency stores, pharmacies, electronics stores and professional channels. It also sells direct to individual consumers. It has operations in approximately 70 countries. It offers products under brands, such as Head & Shoulders, Herbal Essences, Pantene, Rejoice, Olay, Old Spice, Safeguard, Secret, SK-II, Braun, Gillette, Venus, Crest, Oral-B, Ariel, Downy, Gain, Tide, Always, Always Discreet, Tampax, Bounty and others.

NYSE:PG - Post by User

Procter & Gamble Co

<< Previous

Bullboard Posts

Next >>

Post by MrWatsaon Jan 11, 2020 8:43am

209 Views

Post# 30541772

Fundamental Research Corp. - Premier Gold Mines

Key Highlights

In Q3-2019, Premier Gold Mines Limited (“Premier”, “company”) reported revenues of $19 million, down 31% YoY, and 18% QoQ, due to nil sales from its South Arturo mine (expected), and an unexpected 17% YoY decline in production at Mercedes due to lower grades. EBITDA was $1 million in Q3-2019, down 83% YoY.
At South Arturo, commercial production was achieved in October 2019. Phase 1 pit is expected to be in production by H2-2020.
In the Q3 conference call, management indicated that they expect Q4-2019 production from Mercedes to be significantly higher, from stronger grades.
We are lowering our 2019 gold sales estimate from 77 Koz to 73 Koz, while maintaining our 2020 estimate at 77.5 Koz.
In October 2019, an updated resource estimate was announced on the Greenstone project, which showed measured and indicated resource of 7.11 Moz (up 11% from a previous 2016 estimate), and an inferred resource of 3.10 Moz (up 25%). Included in this estimate is a 5.87 Moz gold measured and indicated resource with open-pit potential (up 26%).
Balance sheet remains healthy with $33 million in cash at the end of Q3-2019, and a relatively low debt to capital of 11% versus the Gold industry average of 49% (Source: S&P Capital IQ).
We expect a number of catalysts in the next 12 months; key ones being ramp up of production at South Arturo, improved grades in Q4 to result in higher production at Mercedes, a Feasibility Study (“FS”) on Cove in 2020, and an updated FS on Greenstone Gold before 2019 year-end.