The ~$14,000,000 revenue increase in 2022-Q3 was achieved by a ~$13,000,000 decrease in inventory;
The net profit, on sales of $55,000,000, is ~$4,000,000. Compared to the previous quarter, this is a decrease of ~$2,000,000;
Regarding cash, it is ~$2,400,000, down ~$2,600,000 from the previous quarter;
These financial results were obtained by a reduction in the ores extracted; an increase in ores processed; an increase in the gold grade processed and by the sale of gold in inventory. In other words, all measures have been taken to reduce costs and increase revenues. The conclusion boils down to a drop in profits of $2,000,000.
Now, the inventory is almost empty, the gold content of the stacked ores is at an all-time low, as is the cash. In other words, Thor used his options in 2022-Q3 and no longer has the tools to compensate for his low profitability. Added to this is a negative working capital and deadlines to be met on already deferred bill payments.
On September 7, I issued a Thor Profitability Alert with the following terms: "The complexity of the financial situation". I RENEW THIS ALERT WITH A CODE RED for 2022-T4.
For the SP, it's up to you whether it's good or bad, depending on the type of investor you are.
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