huuuuuuuuuuuuuuuuuuuuuuuuuugnn Platosa mmm mmmm MMMMMmmmm
|Halve production and double costs
|even the exchange rate works in their favour
An IRR of just 118% with some very conservative metal prices. This mine must make money hand over fist. So why have Brendan and his team raised ~C$41.6M since Q3, 2015?
- C$6.6M in Nov 2015
- C$2M in Osisko (Oban) shares for the DeSantis Property
- C$3M in march 2016 from Sprott
- C$15.2M in July 2016
- C$14.8M in Sept 2017
According to the PEA, this mine should produce an embarrassing amount of money?
Let us check that visually, this is just a quick graph showing cumulative net profits or loss compared to cumulative funds raised.
Ohh, so they've actually made a cumulative loss of ~C$24M since mid-2015, with just 1 quarter (Q4, 2017) out of the past 11 where they have made a profit, and even after the "turnaround"
It is nice to see another successful mining company with a mine matching its PEA.
What is cool is, their current working capital is ~C$14.5M, which means that they have already started to chip away at the C$14.8M they raised last year, so hopefully with the Hecla lease they'll actually make some money before they have to raise some more.....