Golconda Gold Ltd V.GG

good financials, almost debt free

[onetimer]

• Earnings from operations of $0.5 million (Q2 2021 - $1.0 million).
• Positive cash flows from operating activities of $0.3 million (Q2 2021 - $0.5 million operating cash outflow).
• 1,760 payable ounces of gold sold at an operating cash cost before royalties of $1,416 per ounce (1) .
• Post quarter-end, the Company entered a new offtake agreement for its Galaxy operation, providing a higher payable percentage for gold content in its concentrate and an unsecured $3 million revolving finance facility.

Year to Date 2022 Highlights (“YTD 2022”)

• Galaxy produced 4,465 tonnes of concentrate containing 5,489 ounces of gold (YTD 2021 - 3,126 tonnes of concentrate containing 3,236 ounces of gold).
• Earnings from operations of $2.3 million (YTD 2021 - $0.7 million).
• 4,117 payable ounces of gold sold at an operating cash cost before royalties of $1,216 per ounce (1) .
• Positive cash flows from operating activities of $1.3 million (YTD 2021 - $1.2 million operating cash outflow).
• $1.2 million of debt repaid (YTD 2021 - $1.6 million of debt repaid).
• The sale of Mupane has recharged our balance sheet with the removal of over $17 million in liabilities and, as a result at the end of Q2 2022, the Company had net debt of less than $1 million. Consequently, post quarter end, the Company was able to finalise a new revolving finance facility for Galaxy to enable continued investment to support the ramp-up of production. (2) ”

[bailey2]

Really? How about: When is the name change and ridiculous share consolidation? Price was almost 20 cents a few months ago, before they announced the stupid consolidation..... 1 for 5 brings us up to 35 to 40 cents........How about an announcement to the investment community that they are taking it off the table, and trying to execute first and foremost, getting cash costs down, and improving

[EdinColorado]

Trevali is a great example of what occurs when a company in decline tries to reverse split its way out of trouble. Stockholders get fleeced to their last penny. TV just declared bankruptcy. 

[Beabaggage]

added more GG, Pan African assets are nearby presenting an potential take out company but regardless Galaxy will be a good shape if they focus there for now until POG recovers.  Would have liked more news in the 2nd q including discussion of what is going on but sometimes less is more. Bea