St Andrew Goldfields (SAS)

[Ricepad]

St Andrew Goldfields' Income Hides Its Strong Free Cash Flow


Summary

* St Andrew Goldfields will very likely beat its production guidance of 85-95,000 ounces gold.
* The development of the Taylor project has started and the gold production should start by the end of this year.
* The free cash flow is more than twice the net income, and the market seems to be overlooking this fact.

Introduction

I'm surprised to see I have never discussed St Andrew Goldfields (OTCQX:STADF) here on Seeking Alpha, despite the company being a relatively sizeable gold producer in Canada. In this article, I will focus on the company's performance in the first quarter of this year to see if this gold-producing company deserves more attention.

Seeking Alpha Article here. Sincerely, RP