RE:When is KL earning date for Q1, stupid medonbestupid wrote:
cannot find. Maybe deep to serach deeper.
It looks to me the cash position actually increased a lot at $530m.
Shares buy back $329m
On end 2019 cash $707m
DGC after all deduction gain cash $29m
$707 + $29 = 736m
minus $329m = $407m
Q1 reported cash balance $530m
That's a good increase of $123m
but then the earning work out to be $.44c which i think i am wrong.
Anyway, Q1 is history , hope they are inline , what we want is great guidance on the road down towards the future. with shaft #4 in completion earier.
Detour is great acqusition, period .
Sorry I don't know the earnings date either right now.
I'm a little confused about the shares bought back in the 2020 share buyback program.
In the March 18 news release it was stated:
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Share Repurchase Plan
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10.1 million common shares repurchased: A total of 10.1 million common shares have been repurchased through the Company’s current NCIB program. The repurchases have been made through the recently announced automatic purchase program (“ASPP”) and through discretionary purchases directed by the Company under the NCIB. Based on progress to date, the Company’s is well positioned to achieve its goal of repurchasing 20 million common shares over a 12 to 24-month period. A total of approximately $350 million (C$470 million) has been used to repurchase the 10.1 millon shares.
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But in the April 8 news release :
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Completed acquisition of Detour Gold on January 31, 2020, adding a third cornerstone asset in one of the Company’s core jurisdictions, Canada, with substantial value creation potential through increased production, lower unit costs and exploration upside; 77,217,129 common shares were issued to Detour Gold shareholders as consideration for the transaction; Company gained $159 million of cash at closing of Detour Gold acquisition and, subsequently, used $100 million to repay Detour Gold’s outstanding debt and $30 million to close out Detour Gold’s hedge positions; Detour integration progressing well with annual synergies and value enhancement opportunities targeted at $75 – $100 million
So which was it approx.10.1 million for $350M or 9.7 million for $327M
in any case assuming the 9.7 million shares bought back that in effect means that the amount of shares increase ended up being 77.2 million – 9.7 million or about 67.5 million shares scince prior to the Detour purchase.
The $329M cost for the KL shares bought back worked out well so far being 329/9.7 or
about $33.92 per share with the closing KL share price Friday April 24th of $42.87.
If KL can hold the Detour AISC to near $1000/oz after the covid disruption then current prices of $1700/oz should bring in a tidy operations profit of $700/oz less taxes and other costs not in AISC. I'd say $400M-$500M per year to add to KL's already substantial earnings from Macassa and Fosterville.
Whatever the Q1 earnings are they will probably be somewhat less in Q2 despite the POG increase because of reduced operations but I think they will still look substantial when comparing to the earnings reports coming in from many companies not even operating or operating at a fraction of their previuos levels with costs remaining virtously same. Especially against non gold producing companies who don't get the benefit of the rising value in their products or services sold.