AGT conference call
Nothing surprising. On schedule to produce gold by May. Grey Fox results are pending as well as Huizopa preliminary 43-101 resource estimate. All should be out in the next 2 or 3 weeks.
During question and answer, someone asked if they expected to need further financing during the rampup to full production. CFO said they were confident they wouldn't have to.
Gold sales happen one day and they are paid by end of week so cashflow should start soon after first gold pour.
Someone asked about paying off hedges early. CFO said it was a negotiated process between them and the banks. Pointed out that the hedges are insurance for the banks that their loans will be paid. Banks wouldn't want hedges paid off early if that exposes loan to possible nonpayment if gold tanks. So as long as loan is out there, there will be hedges. However if loan is being paid off early, there should be no complaints from Bank. Still have to be negotiated.
Hedges are monthly so there are minimums due each month. There is some leeway but there is some production scheduled for May and each month thereafter. Said they don't necessarily have to deliver gold into the hedge. They can sell the gold and then payoff the hedge at monthend in cash.
They seem excited about both Grey Fox and Huizopa.
Bobwins
Presentation from conference call is available at apollogold.com website.
Please post stock symbols first in all your posts. If it's a foreign stock, please list the US pk equivalent symbol.
If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE
