for you JC
"
- The Company's cash balance at March 31, 2021 was $197.0 million , and was affected by a negative working capital adjustment of $27.2 million in the first quarter related primarily to an increase in accounts receivable due to shipment timing;"
Now you have to love the wording on that one, "negative working capital adjustment"
Is that like a terrorist error called a "workplace mishap"
then followed with the beautifully written "increase in accounts receivable due to shipment timing"
.... the boat sunk?
friggin funny....
stripping ratio is high at 6:1 which means those stripping expenses are mostly in the first quarter, so more profit moving forward for subsequent quarters with less stripping cost and higher copper percentage, and likely higher copper price than in first quarter.
This one I have absolutely no clue, at all
"
- During the quarter, Gibraltar entered into an off-take contract for 45 thousand tonnes of copper concentrate shipments in the second half of this year which included deeply discounted TCRC's at some of the lowest levels the mine has ever seen since it was re-opened in 2004;
What does that mean?
Numbers were about expected, and about what was suggested by management, so no complaint there.
No profit means no taxes, but extra money in the bank thanks to satisfactory ETIBDA.
Done remind NF that the PP money has kinda vapourized....
Please, pay down the dept, fund yellowhead, then we can talk about massive dividends....
As someone else noted, not a peep about laying off 40 workers, but they were probably the extra bunch needed to strip Pollyana? No information still leaves us guessing, but then again they have not been in the habit of publicising hires or layoffs that are within the normal scope of operations. If it was 200-400 being laid off, a different story.
No permit on the mystery pit, it could be the main gibraltar pit, but no mention at all in the report would indicate it is not, as that would be a securities breach. No report means we must assume it is not a part of the main operation and will not affect mining moving forward......
Yes, yes, I know, this is Canadian mining, but I would not be in it if I did not have hope, and did not enjoy the ride, along with the shenanegans.... roller coasters would be rather boring if they were too predictable, so we could always switch to bank stocks...
Overall a good report, within expected and poised for a move north, with possible intermission.
Im with JC on tomorrow, no clue as to which way it will go, as when I have it figured out, the market slaps me up the side of the head.
KW