In light of continuing upward pressure on the gold price, a decision was made to defer sale of some production during the year, as a result of which, our inventory of both phase 1 and Phase 2 production has increased. Management believes that sale of this inventory can realize significantly higher prices in early 2022.
In terms of our existing capital structure, the fact that, as a “junior” mining company, we were able to achieve a (weighted average) earnings per share (EPS) of $0.49 per share is a rarity in the markets today and a tribute to our operating team in Indonesia and will greatly assist our capital raising efforts as we move further into the expansion of our platform.
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