Commodities / Gold and Silver 2015 Aug 04, 2015 - 09:29 AM GMT
By: The_Gold_Report
While Randall Abramson, CEO and portfolio manager with Toronto-based Trapeze Asset Management, freely admits that we are living through the summer of discontent in "Commodityland," he says investors should step back and look at commodities, especially gold, from a macroeconomic and historical perspective. In this interview with The Gold Report, Abramson discusses the magnet he expects to pull gold to around $1,400/oz inside 12 months, and he also offers some of his favorite names in the gold space.
The Gold Report: July 13–20 was an unusual week in the gold market. In a May newsletter to Trapeze Asset Management clients, you argued that the glass is "half full" for investors given current macroeconomic signals. Much water has traveled under the bridge since. Has your view changed?
More here. St. Andrew Goldfields is mentioned 3/4 of the way down. The biggest thing, St. Andrew has brought there all-in sustaining cost (AISC) to $900 / oz.
SAS reports 2015 second quarter results - strong operating cash flow and operational performance at Holloway
ST Andrew Goldfields (TSX:SAS) Historical Stock Chart 1 Month : From Jul 2015 to Aug 2015
Click Here for more ST Andrew Goldfields Charts. All dollar amounts are stated in Canadian dollars, unless otherwise indicated
TORONTO, Aug. 12, 2015 /CNW/ - St Andrew Goldfields Ltd. (T-SAS), ("SAS" or the "Company") reports $9.2 million or $0.03 per share, in operating cash flow for Q2 2015. Net income attributable to shareholders for Q2 2015 was $3.5 million or $0.01 per share, as compared to net income of $0.6 million, or nil, on a per share basis, in Q2 2014. Excluding marked-to-market adjustments on derivative financial instruments, adjusted net earnings (1) for Q2 2015 was $3.3 million or $0.01 per share as compared to an adjusted net loss (1) of $0.2 million or nil, on a per share basis for Q2 2014.
Q2 2015 HIGHLIGHTS
Gold production – Produced 23,533 ounces of gold from Holt and Holloway (17% increase from Q2 2014 for the two mines); and on track to meet the top end of the Company's 2015 production guidance.
Gold sold - Sold 23,319 ounces of gold at an average realized price (1) of US$1,201 per ounce for revenues of $34.4 million (9% increase from Q2 2014).
Total cash cost per ounce of gold sold (1) – US$739 per ounce (15% decrease from Q2 2014). Mine site cash cost of US$641 (1) for Q2 2015 is 14% below the Company's mine cash cost guidance of between US$750 and US$800 per ounce.
All-in sustaining cost (AISC) (1) – US$966 per ounce of gold sold (12% or US$132 per ounce decrease from Q2 2014).
Cash margin from operations (1) - $13.2 million ($3.3 million or 33% increase from Q2 2014).
Operating cash flow - $9.2 million or $0.03 per share. For Q2 2015, SAS generated $1.8 million in net cash flow (1) as compared to a $2.6 million cash outflow in Q2 2014.
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