That is all I ask from management, hit the 2015 guidance. 60,000 tpd production at the stated recoveries. If they attain the 2015 guidance, then projected 2016 cash flow will be big due to full production, and reduced debt.
The $100 million dollar stripping cost has been stated before. The stripping was deferred to save money. Ultra have stated in the past the whole $100 million is not required to access the moly.
Why would they continue limited stripping at TC mine if cash preservation is #1 priority? Are there any benefits to doing limited stripping? $8-10 can be saved if it is terminated.
TMGUVEN - is there a transcript or video of the CIBC presentation available?
They should have known the incoming lower grade for the quarter and not missed on their guidance. IMO there is more to it than just lower grade. I suspect they have a lot more process adjustments to make.
Enough discussion about refinancing. Enough discussion about how much cash they will buildup 2015. They are important, but let's move on to a subject which I am more concerned about; and that is will they execute at Milligan. I am not comfortable with the Q4 production numbers, especially their miss on gold. They have many challenges ahead of them. Do they have a good understanding of the their process and and the correct solutions to overcome the bottlenecks? There is a big gap between where they are today, and where they want to be at end of 2015. Do they have the talent to get the job done? Comments from the more experienced posters would be appreciated.
Not much was said about the low gold production in Q4 at the CC. Q4 gold recovery was 60.8%. I could not find the Q4 gold grade information. I back calculated and came up with a Q4 grade of 0.49g/tonne (compared to 0.79g/tonne in Q3).
It is not 80% capacity in 2015. It is 80% capacity at start of 2015, and 100% at end of 2015.
Perron stated the second crusher will get them to 62,000 tpd, much lower than another 25% as you stated.
Perron stated they would need Board approval for future bond purchases. Does this means there are no obstacles to buying more bonds or is he being coy?
You are right….3 million per year. Good, but tot that big of a deal. Pay off 350 million, that is a big deal!
Could be, but how can they underestimate the grade by that much. Perron always sandbag his targets, and he misses by a mile. We will hear his story at the cc.
Generally good news release except for very disappointing gold production. Their recent updated 2014 gold guidance was 185,000 to 195,000. And they end up with 177,000. How could they miss by so much? How do they go from 60,000 oz in Q3 to 41,000 in Q4? They blamed lower gold grade and lower gold recovery for the drop. The grade should not be an issue if their models were as good as they have always stated. I suspect they screwed up big time somewhere in their mill. I'm sure this will be discussed at tomorrow's conference call. They better have a good explanation.
The only interesting statement was MM costs was expected to be reduced to$242 million annually due to lower C$ and lower fuel costs. At today's commodity prices, MM cost would be $0.38/#Cu. Any comments on new SA article?
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What is SG&A with no moly operation, etc? SG&A has been around $32 million a year. Can it be ~ $20 million?
What are capital expenditures for 2015? Can it be $10 million?
What are costs for maintaining TC and Endako mine?