RE:New Press Release - GEODRILL ANNOUNCES 2023 FOURTH QUARTER AND YEAR END FINANCIAL RESULTS Solid revenue compared to Q4 last year. Looks cheap relative to book value. Smart to diversify into majors, other minerals, and other geographic regions. Margins will feel the pinch. Glad Burkina is in the rearview mirror.
Trade receivables of 91+ days is still very worrisome at $15.2M ($9.7M after expected credit loss allowance). CFO mentioned on the call that it's a mixed bag of customers contributing to that number.
With gold over $2.1k/oz one might expect capital to flow into junior explorers (but that's been said for years now). Probably can't happen until central banks cut rates to make borrowing and capital more plentiful.
If/when it does happen it might breathe life into some of Geodrill's junior customers and reduce Geodrill's trade receivables, but that's probably just wishful thinking. Left wondering whether the $5.4M expected credit loss allowance will be enough.