RE:Q3 Losstempletooth2 wrote:
The Q3 loss of US$24.9 million on an ounces sold basis of 60,790 ounces works out to a loss per ounce of $409. That is less than I expected. Remember, the loss per ounce in Q2 was over $500.
The initial write-down at Didipio could be important in that it was accompanied by a statement that it would take a year to return to production. This will force analysts to revise their 2021 production estimates. I note that Scotia still has a 2021 estimate of 535,000 ounces. The underwriters of the recent deal are in a delicate situation here: it might be slightly more palatable to have a November dateline (December even better) on their estimate reductions.
Agree - optics are bad. Perhaps Scotia should pray for a miracle - like Dutertes hand to move in the correct way.