Alrighty now.... MM's filled the damn gap at 2.81 and actually ran it down to 2.72
Today the company announced record production, record profits and the best AISC that they have ever had with the goals to reach full forecasts for the year and incredible profit margins. Gold is up over $24 per ounce - yet - MM's driving the price down further again.
GO FIGURE !!
-- Record second quarter 2021 consolidated gold production of 29,831 ounces
and gold sales of 30,412 ounces was ahead of budget, positioning the
Corporation well to deliver 2021 guidance. Full year consolidated 2021
gold production guidance of 105,000 to 115,000 ounces is maintained
(assumes no significant interruption to operations as a result of the
COVID-19 virus).
-- Second quarter 2021 consolidated all-in-sustaining-costs ("AISC")1 of
US$996 per ounce was on track with the full year 2021 guided range of
US$985-$1,085 per ounce and a 5% reduction, or US$53 per ounce, compared
to first quarter AISC of US$1,049 per ounce.
-- Adjusted earnings1 of $14.3 million, or $0.10 per share for the second
quarter of 2021, up $11.6 million from $2.7 million in the second quarter
of 2020 and up $6.2 million (or $0.04 per share) compared to the first
quarter of 2021.
-- Adjusted EBITDA1 was $29.5 million or $0.20 per share for the second
quarter of 2021, up $9.2 million from $20.3 million in the second quarter
of 2020 and up $8.3 million from $21.2 million in the first quarter of
2021.
-- Cash flow from operating activities of $26.4 million, an 18% increase
compared to $22.3 million for the second quarter of 2020 and up $7.7
million (or $0.05 per share) compared to the first quarter of 2021.
-- Karora ended the second quarter of 2021 with a strong cash position of
$82.2 million and working capital of $64.8 million, higher by $5.5
million and $1.6 million, respectively, from March 31, 2021.
-- On June 28, 2021 the Corporation announced a multi-year growth plan
funded through operating cash flows and current cash balance. Three-year
production and cost guidance will approximately double consolidated gold
production to 185,000 -- 205,000 ounces by 2024 at an AISC of
US$885-US$985 per ounce. The growth plan includes a significant expansion
of Beta Hunt to increase underground production to 2.0 million tonnes per
annum ("Mtpa") by 2024 through the addition of a second decline.
-- The three year growth plan includes a Phase II expansion of the
Higginsville processing plant, increasing throughput to 2.5 Mtpa by 2024.
A Phase I expansion to 1.6 Mtpa from 1.4 Mtpa is currently underway.
-- Karora announced a new high grade nickel discovery at Beta Hunt, the
second in the last six months, known as the Gamma Zone - 50C, where 11.6%
nickel over 4.6 metres, including 18.4% nickel over 2.2 metres was
intersected in hole G50-22-005E. Drilling also intersected gold
mineralization above and below the 50C trough and indicates the Beta Hunt
gold mineralized system extends for over 3.5 kilometres of strike from
the northern end of the A Zone (See Karora news release dated April 6,
2021). Follow up drilling is ongoing as part of a new dedicated nickel
exploration unit established at Beta Hunt during the second quarter.
