Good newsThis popped up on my value screen last week. I started doing some homework. A few interesting things that shouild provide huge near term upside:
1) In mid-Aug (1/2 way through Q4), ORV said in NR that " and we are confident of meeting our cost guidance" [as well as production guaidance]. For ORV to meet cost guidance at the high end, Q4 AISC will need to be around $1,450/oz. I find this had to believe but if they said it with 6 weeks left in fiscal year, they must be confident!
How could they achieve this? No doubt, CAPEX must be down. But even with less CAPEX, they must be mining a higher grade area. Should generate a few millon in cash for the quarter and quarter to come.
Other thing going our way is FX. EUR down about 30% over the year. That is much bigger than even the high inlfation rate in Spain and Europe.
Q4 update out by TUesday? Should have been out already but I'll wait.
Bought a little this week. But to get size, you need to chase it. Not in a chasing mood. BUt if NR is out next week with expected results, I'll probably scoop everything up available into the low 30s