Lion One Metals Ltd V.LIO

Alternate Symbol(s): LOMLF | V.LIO.WT

Metals & Mining Gold

Lion One Metals Limited is a Canadian gold producer. It is in the business of mineral exploration and evaluation and is focused on the development of mineral resources in Fiji. The Company is the owner and operator of the Tuvatu Gold Mine located on the island of Viti Levu in the Fiji Islands. The Tuvatu Gold Project has been fully permitted for development, construction, and mining by the Government of Fiji with the grant of a Special Mining Lease (SML 62). The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Property comprises four special prospecting licenses (SPL 62), with a total area of 20,170.5 hectares. It also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets. It holds four exploration licenses for the Tuvatu properties as granted by the mineral resources department.

TSXV:LIO - Post by User

Lion One Metals Ltd > Financials

<< Previous

Bullboard Posts

Next >>

Comment by Puma1backon May 15, 2024 6:35pm

99 Views

Post# 36042206

RE:RE:RE:Financials

sorry - forgot they report in cdn dollars so Revenues could be $12.5 million to $14 million in Q4.

Puma1back wrote:
looking at the MDA they did 450 oz in 10 days of May so if they can duplicate Q3 and do about 80 days should be close to 4000 oz. So more like $9 million in Q4 revenues, but cost of sales is the key. Will they at least have a positive gross margin, or at least positive ebitda?

In December they took a $3 million hit to inventory and charged cost of goods. Looks like this quarter there was a reversal of $1 million so this is good.

i like that they are deferring capital on the mill to preserve cash flow.

they did spend $1.4 million on exploration & evaluation - i presume that will slow given the limited cash in the till.

they do have till August 9th to decide on drawing Tranche 3 of $4 million so additional cushion there at least.

$1.6 million of cost of sales is non-cash depletion, so about 10% of total cost of sales.

in the end, the financing was ugly, but clearly a do it or fold up shop was other option and that's why it was so ugly.

nozzpack wrote: $10 million per quarter is just 3000 ounces of Production and my estimate is 7000+ ounces for Q2, so another equity raise at exit June is unlikely to be needed....might even be in cash