gcm q2 net income of $39.0 million ($0.40 per share)q2 fcf $20.5 million, big increase from last year.
net cash provided by operating activities increased to $31.5 mil
with eps of 40c, gcm share price should go up at least 40c right? ;-)
cost will decrease in h2 without the temporary switch to higher cost electricity in q2, and increase to 2000 tpd in aug. will increase production while lowering cost.
cash balance would have been $300 mil without the $35 mil cash used to buy aris debenture. but that is like sending cash to aris and eating it back with aris merger, like a snake eating its own tail..not bad considering they used $31 mil cash investing in toro in h1.
with cut in divi and savings in merger g&a, they will save additional $30 mil per year.
segovia continues to generate a lot of cash.