RE:RE:RE:RE:RE:RE:RE:RE:RE:upgrade from roth capitalBeluga2020,
On Mandaley, you are correct that they have 50k ounces hedged over the next 3 years. However,
they have two gold mines with growing gold production with Bjorkdal production planned for 62,000 ounces in 2021, 64,000 ounces in 2022, and 78,000 ounces in 2023. Costerfield is ramping up production from the Youle vein and will be at 15,000 ounces of gold production by Q4.
So here's a math problem for you. If you have 12,500 ounces per quarter hedged, and your costs are 10,000 ounces of gold per quarter, and the total gold production is 30,000 ounces per quarter, how soon could you pay off a $60 million USD debt?
I think that the answer is under one year with gold at $2000 USD per ounce.
On ORV, there are 2 directors in common and one of them happens to have worked his way up to Chairman of Orvana's Board of Directors. Not bad for a part time gig.
I agree that USA is highly leveraged to the price of gold and silver, so it is a great stock to buy and hold.