Discussion in 'Stocks & Derivatives' started by SilverSanchez, Oct 26, 2011.
The same reason all shares go up or down in price
Increased holding today,
Mt Carlton is comissioned, but i secretly hope they stockpile the silver
From December Quarter report
"The Company's All-in Cash Cost for the December 2012 quarter was A$1,127/oz"
"The gold hedge book commitment at quarter end was 189,369oz at an average price of A$1,573/oz."
Quarterly Report From Today
"Evolution Mining disappoints market on output, costs, but pledges golden end to year by: Barry Fitzgerald From: The Australian April 24, 2013 12:00AM Increase Text SizeDecrease Text SizePrintEmail
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EVOLUTION Mining has disappointed the market on production and costs for the (third) March quarter but has vowed to finish off the June year with a flourish, enabling it to stick to previous guidance that annual output would weigh in at 370,000-410,000 ounces of gold.
Its shares, already beaten up because of the dramatic slump in gold prices, fell 6c, or 6.3 per cent, to 89.5c yesterday in response to March quarter production from its stable of mines of 84,251 ounces, coming in below production guidance for the quarter of 85,000-90,000 ounces."
Barry Fitzgerald you dork! This does not represent the sentiment of the quarterly report at all!
Just looking to have an explination for the SP decline.
Wow, great interview. Thanks for posting. 2% royalty dividend every 6 months. Hedged above $1500 next 4 months.
Last 5 seconds..........."Live from Booondasberg(Bundaberg), Queensland. "
Yes Australia has turned into Austria - Bundasberg
Well, went in at what I thought was a low 89 cents........so on my recent form I'd expect a 10% selloff by Friday.
Thanx for the heads up - I have an order in @ 0.79
Financial performance from march quarter report
Total revenue of A$134.4M (A$172.6M) derived from gold sales of 84,357oz sold at an average price of A$1,573/oz and 62,000oz of by-product silver sold at A$29/oz
Gold hedge book at 31 Mar 2013 152,171oz at flat forward price A$1,573/oz
Group cash operating costs (C1) of A$77.3M in total or A$918/oz. All-in cash cost of A$1,353/oz
Cash in bank of A$7.4M at 31 Mar 2013 and debt drawn of A$106.8M
Cash inflow of A$75.4M consisting of A$50.4M from operations and A$25M from debt drawdown
Cash outflow A$117M on capital expenditure, exploration, corporate expenses and working capital
I ended up picking up this parcel @ 0.58 - a whole 10c (25%) cheaper
Current spot price as I type this is A$1,353/oz. OK, they have hedging in place for about two quarters, but what then ...? :/
I wouldn't want to invest into a company that has hedged too far into the future
what if spot goes up next month, they'll be selling at the lower hedged price. But I understand it can goes both ways
Leaverage is greatest at the margin
Makin' money even in a falling market, great management.
My trust is well placed even though Im a Christian, I believe in Evolution Mining
Evolution has been on a very impressive roll lately, buying the large NSW gold mine Cowal from Barrick, buying La Mancha's operations, and now today...
Full announcement here:
Historically high monthly volume for September that delivered the price to the doorstep of 1.30 resistance.
Good breakout today, except for modest volume. Cup & Handle continuation? I would guess yes, and so more to come, but am not buying.
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