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Robex Resources Inc V.RBX

Alternate Symbol(s):  RSRBF | V.RBX.WT

Robex Resources Inc. is a Canada-based gold mining company. The Company owns two assets in the prospective Birimian Greenstone belt: the Nampala producing gold mine in Mali, and the Kiniero Gold Project in Guinea (Conakry). The Kiniero Gold Project is a 470 square kilometers (km2) package of mining licenses in the prolific Siguiri Basin, Guinea, and consists of the adjacent Kiniero (mining) and Mansounia (exploration) licenses which host numerous deposits. The Nampala Gold Mine is located in the Republic of Mali, approximately 250 kilometers (km) southeast (335km by road) of the capital of Bamako, 45 km northwest of the Syama Mine (operated by Resolute Mining Limited) and 91 km southwest of the Morila mine (operated by Firefinch Limited). The mine is in the Sikasso administrative region. The property has a total surface area of c. 280km2 and consists of two parts: the Nampala exploitation permit covering 16 km2, including the Nampala mine, and five exploration permits.


TSXV:RBX - Post by User

Bullboard Posts
Post by ABDPhilon Nov 26, 2020 10:40pm
987 Views
Post# 31986760

My analysis of financial statements

My analysis of financial statements
Personally, I believe my level of appreciation of these financial statements is halfway between that of Willfr34 and that of Studpuppy. Therefore, I am satisfied with these results.
 
My last income estimate was $ 55,000,000 and we got $ 45,000,000. This is a significant difference, but the explanations provided in the press release are very enriching. I advise you to read this press release carefully because we can conclude that this drop in production is mainly due to the fact that the low grade ore was processed in 2020-T3 without including the high grade ore usually used for standardize the average content. Therefore, this high grade ore is already in processing in 2020-Q4 and will continue to be processed over time. The overall gold grades are therefore in line with expectations and the revenues from the higher grade ore are simply lagged. So there is nothing lost and this richer ore will wait quietly at the bottom of the pit.
 
Regarding operating costs, they did increase in 2020-Q3 but it must be considered that they had also decreased considerably in 2020-Q2, as a result of measures linked to the pandemic. From 2019-Q1 until the start of the epidemic, the average of these charges was $ 7,616,000. Now that average is $ 7,571,000, down slightly. In conclusion, everything is perfectly correct.
 
Regarding the depreciation of fixed assets, I am delighted to note that we have returned to the level of 2018. Anyone who can interpret this information correctly will conclude that the life of the mine has increased. And anyone familiar with the matter knows that future drilling results will once again increase mine life while further reducing that amount of depreciation. As a result, the price-to-earnings ratio is currently down 37% to 5.4. Concretely, a share of Robex at 41 cents is a godsend. With a price-to-earnings ratio of just 10, Robex's share value should be 75 cents.
 
Regarding the administrative costs increase, it is $ 1,500,000 to $ 3,000,000. This increase is linked to bonuses for executives as a result of the increase in mineral resources. This increase in resources is over 400,000 ounces and will eventually generate revenues of approximately $ 1,000,000,000. Therefore, let me tell you that I am very happy to finance such an increase in administrative costs.
 
Regarding finance costs, I am happy to see this long slide in interest costs and I take this opportunity to point out to you that 2 of the 4 bank loans matured in October and November. Robex’s bank debt is now around $ 6,800,000 from over $ 40,000,000 not too long ago.

@Stud: It's no meanness that I consider your comment about "creative accounting" inappropriate. It is not creative accounting, it is simply accounting and this accounting is framed very strictly by the IFRS representation standard.
 
To be honest with you, if you have cash flow, Robex is always a smart choice.
 
GLTA
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