IMO the Operating Performance for Q4 and whole FY13 is pretty bad, lets have a look:
Gold mined oz FY2013
Q4(18,887)-Q3(22,367)-Q2(25,865)-Q1(36,713)
steady decrease/Q4 about half of Q1...wtf?
Gold produced oz FY2013
Q4(11,912)Q3(17,674)Q2(20,025)Q1(17,882)
steady decrease since Q2
Only increase was Gold stockpiled oz... it has risen about 25k oz
Does someone know why this material hasn't been put on heap leach pad, because in Note 1(page 7 MD&A) it says stockpile is declared for heap leach!???
If searching for some positives:
increase of 254% in sales of aggregates
an increase of $3.8 million in donations and community relations mainly due to the agreement signed by the company
with the Government of Panama for construction of water management facilities for the benefit of communities around its molejon mine.
an increase of $1.8 million in Exploration and evaluation costs due mainly to the increase of activities in Spain related to the Company's Lomero-Poyatos project.
Gold stockpiled increased 25k oz (as above)
Cash cost are low with 540$.
They need a higher Price of Gold or FY 2014 will get worse IMO.
Look at average realized gold price for Q4... it's 1,473$... what gold price do we have today...ohoh... EISBERG VORAUS!!!!
Egal in welche Richtung Du das Ruder drehst, drehen musst Du es doch!
AI
