Post by
Fullplate on Oct 11, 2017 9:52pm
Decent Numbers
Today's Q3 production announcement was better in most respects than what I had thought. The 8000 ounces produced was low (only about US$10 million in cash), but mining, crushing, and heap pad placement are at full commercial levels. If they can maintain that effort, and if grade and recovery don't fall, they should produce 7-8 thousand ounces per month starting some time in early 2018. Pretty close to the 100,000 annual ramp-up goal for FL Canyon. I'm hoping now that cash flow is sufficient to keep on the ramp-up plan without further dillution. I would rather slow the ramp-up instead of diluting shares. It will probably be about 7 weeks until the Q3 financials. If money is going to get tight, it will be during this upcoming time period.
Comment by
awacs1 on Oct 11, 2017 10:32pm
Agreed. I like the steady growth executed as per the plan. If we can get a sustained move above .25 we should see a very positive short and medium term return.