RE:Q3 results one of the more interesting disclosures is in note 3.
Looks like a year ago , just before Q1 ended they tested the carrying value for the mine & mills and they came up seriously negative producing what would have been almost a 40% writedown of the carrying value. Close to a $60 m -
so as part of the year end in Q4 this June they recalculated the carrying value test with an updated gold price based on current markets.
the project flipped from a -$60m net present value to a $17m positive NPV. That isn't a huge flip and shows these guys were either brilliant with their gold price forcasts or just lucky.
That $60m hole would have ended the company imo: the somewhat slim $17m npv though is likely pretty cautious as they used an npv rate of about 20%. That is a pretty high discount rate
erieshore wrote: 9 million USD in gold production in Q3 is very promising. Plus good new drill results.
I'm in for the long haul.