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Gran Colombia Gold (Seite 413)


WKN: A2DQSF | Symbol: GCM
2,221
22.05.19
Frankfurt
-7,46 %
-0,179 EUR

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Antwort auf Beitrag Nr.: 60.587.242 von German2 am 16.05.19 23:13:54With that, Ellen, I would like to now open the lines for the Q&A session.

Question-and-Answer Session

Operator

[Operator instructions] And our first question is from Derek Macpherson from Red Cloud Incorporated.

Derek Macpherson

Good morning, guys. How are you? Congratulations on a strong. Could you maybe talk about the strong start to the year, both on a cost basis and a production basis, coming in sort of well ahead of the run rate for guidance, could you talk about why that is?

Mike Davies

Yes, certainly. I think, as you saw in February when we made the announcement of our monthly production, we particularly highlighted that we’d come into an area of -- Company-operated area of Providencia where the grades were averaging almost 2 ounces a ton of material, much higher than the block model showed and a little bit unexpected. And that continued on for a little while and in early March started to come back a bit more to the block model. So, with those extra ounces, we were able to not only get ahead of ourselves in production. But, given the fact that they came from an area where -- it was simply a grade increase, no effect on cost per ton, there was minimal additional cost, really other than production taxes. And that helped to dramatically reduce the cost per ounce at Segovia to 570 in the quarter compared to what we thought. It’s for that reason that while we're very pleased with the outcome, because obviously it really helped deliver a strong quarter, we’d like to see another couple of months of performance before we decide how we’re going to alter the guidance that we’ve got for this year.

Derek Macpherson

That makes good sense. And then, just my second question relates to the capital spend at Segovia along with the exploration spend. The $25 million to $30 million you provided in your guidance, does that include the originally planned 20,000 meters and then the money raised in the recent closed bought deal is supplemental to that?

Mike Davies

Yes. No, it’s not quite that. Let me just go through, and I will just clarify because I have had a couple of questions about our capital spend planned for this year. We expect $25 million to $30 million of CapEx at Segovia this year. That doesn’t include the -- any of the exploration that we’ve got planned. That is the mine development and the infrastructure and the other CapEx that we’ve got going on. For the original, for that 20,000-meter program that was already planned for this year, sort of our recurring program, there is about another $5 million of expenditures to be incurred. We have about $1.5 million that we plan to spend this year at Marmato and another $2.5 million related to the technical studies and drilling of the project. So, if we assume the top end of Segovia’s production guidance, that brings us to about $39 million of CapEx, exploration and development spending this year.

Then, from the about $14 million of cash that we have available from the new money raised, I think, it’s probably somewhere in the area of $5 million to $6 million this year will be spent on the studies that we’re doing upfront and then getting into the expansion of drilling, and then the balance would be spent the following year. So, we’re looking at a total program including the additional accelerated exploration somewhere between $40 million and $45 million this year for the Company.

Operator

[Operator Instructions] Our next question is from Mike [indiscernible].

Unidentified Analyst

Hi. Good morning. So, I have three questions this time. The first one is, how is the machine learning exploration at the Segovia’s so far? How much you need to pay for the Company GoldSpot for this job?

Mike Davies

Sorry, Mike. We didn’t quite get the first part of the question, if you don’t mind repeating it?

Unidentified Analyst

Sorry for that. Yes. So, my first question is how is machine learning exploration at the Segovia so far?

Mike Davies

Yes. The machine learning that we’re doing with GoldSpot really has just gotten underway in the early part of May. So, it’s still little early to comment on how that process is going to go. It’s something that we expect we’ll start to see results towards the middle of the year. It takes a little bit of time to get all the information loaded in and do the analysis. So, it’s a little early but we’re quite confident based on the experience that GoldSpot’s had with other large mining clients that we should get some interesting additional information out of this process to help us prioritize our targets for this additional drilling.

Unidentified Analyst

Okay. So, can you tell me how much you need to pay for the company, GoldSpot, for this job, maybe you have budget?

Mike Davies

We have a budget, it’s -- we don’t release contract information per se. But it’s not -- let’s put it this way, it’s not a very large sum of money for the nature of the work being spent. So, it’s less than $0.5 million for us to do this work with GoldSpot.

Unidentified Analyst

Okay. Thank you. The second one is Company plan to complete the Marmato underground mining operation PEA later this year and then maybe start mining in the fourth quarter. I’d like to know the budget for this Marmato project Company needed to buy new equipment for this project.

Mike Davies

All right. There’s two elements to the information you just mentioned. First, we are working on the studies to lead up to a PEA for later this year. That’s on the larger full expansion incorporating the Deeps information. We will have better information on the total CapEx to build that mine later on through the process. We expect that it’s probably $200 million or less. But, at this point, we’re still in the early stages of the PEA process.

We will not start full mining from the Deeps mineralization this year. That’s going to come sometime afterwards. What is going to start in the fourth quarter of this year is a particular area that when we were doing the drilling from the existing mine, we identified a block with some higher grade material that we have said in our last release about the Marmato results. We will be able to start, and we have started readying the development for mining later this year. So, there's a small section of the zone that we’ve identified, we can start mining this year. But the main project will not commence this year. It’s probably still some time away after we complete the PEA.

Unidentified Analyst

So, the last question is, Company likes to help Sandspring so far. Can you tell me if the Company likes to increase the Sandspring equity? As far as I know, Sandspring needs more cash for the exploration. Also, can you tell me when Sandspring plans to start mining operation at Chicharrón Project, which located within Segovia?

Mike Davies

So, let me tackle the first part and I’ll let Lombardo speak to the second part. So, the first part in terms of will we increase, I think, we’re quite comfortable right now at our 18% position. If Sandspring does some form of equity raise, obviously, we will take a look to see what it is and how we participate in that, but still too early to say. Let me let Lombardo speak to the second part in terms of what Sandspring is doing on Chicharrón.

Lombardo Paredes Arenas

Okay. There are two issues here. One is Sandspring, the [Technical Difficulty] we get and the other is Chicharrón. Chicharrón, we do some exploration. Where’s that chart, exploration? And basically on that result, we develop a plan. So, we're hiring a mining contractor who will work in Chicharrón probably in a couple of months.

Then, we will add another short exploration program for Chicharrón. This is basically shallow wells. It’s not a big deal. But, to answer the question is, yes, Chicharrón, we will start mining Chicharrón this year, or within the next two months.

And related with Sandspring, probably you know that we split the project, one is front [ph] place, which will include Sona Hill, which is a new area, which is a Toroparu project. And then we are developing a PEA, we will continue with feasibility study. Now, we are developing a project execution plan, a complete cost estimate analysis and risk analysis. Also our plan is to try to incorporate a mining contractor to perform the mining in Guyana and also to hire an independent power producer, which will take care of on a take or pay basis of the power production. We are planning on that. In relation with the plan, because the planning -- it’s a big item, because the planning from $90 million to $110 million is -- will be not rotation we see in plant. And there, we’re planning to use second hand equipment like for the SAG mill, for the ball mill [indiscernible] Our idea is trying to reduce at minimum the capital -- the capital expense, the capital project, to make the project more bankable. That is the whole about Sandspring.

Operator

The next question is from Michael Kirk, [ph] representing himself.

Unidentified Analyst

Hello, guys. Congratulations and thanks for these very good quarterly results. I have one question about the Maria Dama plant, which is in expansion now and will be finished in about 4 to 6 weeks. If the production increased to about 1,500 tons per day, how it will affect the future production?

Lombardo Paredes Arenas

Yes. Maria Dama plant now is able to process around 1,300 tons per day. We have treated the plant with around 1,200 tons a day. By the end of May, the plant will be ready to process 1,500 tons per day. And that is our idea, during the course of this year to increase the amount of mineral that Maria Dama will process. Because while new area that we’re incorporating, we are incorporating some more -- more contract mining, it’s more mining. So, the idea is that. The idea is to increase Maria -- not the idea, the fact is that Maria Dama is starting with June 1st will be able to process 1,500 tons per day.

Unidentified Analyst

Okay. We should expect probably in -- little bit higher production, is this correct?

Lombardo Paredes Arenas

Sorry. Could you repeat that, please?

Unidentified Analyst

Yes. I think with higher processing, I think the production will grow a little bit, 10% to 15% or what’s the expectations from this?

Lombardo Paredes Arenas

I think we don’t have anything planning to -- plan to change the Maria Dama performance. We will continue to process mineral and the mineral from mining contractors, nothing different.

Mike Davies

Yes. I think, Lombardo, the additional part to that is that while we have the capacity of 1,500 tons a day, we don’t immediately think that it’s going to be 100% utilized. So, I think, we’ll see the production growing and staying up maybe around 1,300 or so tons a day for the balance of this year, but we’re really setting ourselves up that in 2020 we have capacity for additional material discovered during this year’s drilling.

Lombardo Paredes Arenas

Yes.

Unidentified Analyst

Okay. But, I think what you think is that probably the grades should stay at these levels which we have or what are you expecting? Because if the rates stay at these levels, and this means production will grow. But if the grades go lower and this is the reason for the expansion, then we will have the same production or what’s the reason for this expansion?

Lombardo Paredes Arenas

The reason for this expansion is we are developing Sandra K for example. Sandra K is mine which is still in review. We are also drilling deep El Silencio in which we will find new material. And we are drilling some another areas which will add material. So, in relation to the lower grade -- the lower grade, well, it will be depend on how much material from the mining contractor will be incorporated into the process. Because we do not expect reduction in grades in El Silencio or in Sandra K. On Providencia, we will continue the same production this year and 2020. In other words, the new material will come from exploration.

Operator

And we have no further questions at this time.

Mike Davies

All right. We would like to thank everybody for joining us this morning. Our contact information is in the materials on our website. So, if you’d like to follow up with anything afterwards, we’d be more than happy to get back to you. Thank you. And we’ll look forward to hearing again at the next quarterly webcast in July.

Operator

Thank you. Ladies and gentlemen, this concludes today's conference. Thank you for participating. You may now disconnect.
1 Antwort?Die Baumansicht ist in diesem Thread nicht möglich.
aus dem CC:

-schon 16 Mio Steuern in Q1 bezahlt.. (mehr als dier Hälfte fürs gesamte Jahr)
-man plant dieses Jahr ca 40-45 MIO USD an Investitionen (Segovia+Marmato) (aus dem Cashflow)
-auf dem Projekt welches Sandspring in Segovia betreibt soll noch dieses Jahr Mining beginnen
-auf Marmato wird noch dieses Jahr eine Zone mit höheren Graden abgebaut (sollte die AISC drücken)

-die spätere Marmato-Expansion soll eine Capex von unter 200 Mio USD haben (man setze da wahrscheinlich unter anderem Equipment ein welches man schon für Segovia erworben hat)
...das ist wohl auch der Grund warum der Kurs während des CC stieg ... diese Capex währe für ein Projekt mit 8-10 Mio Unzen ziemlich günstig.. man darf auf die PEA später im Jahr gespannt sein
Antwort auf Beitrag Nr.: 60.586.402 von mjp584 am 16.05.19 20:31:38
Zitat von mjp584: Siehe Beiträge auf zig Seiten vorher. Haben wir alles schon mehrmals durchgekaut...
Grundsätzlich bin ich für gegenteilige Meinung offen, wenn die zu Grunde liegenden Ergebnisse Sinn ergeben, was bei deinem - aus meiner Sicht - nicht zutrifft. Rechne doch bitte mit deinen angenommen Zahlen mal vor, wie hoch der Gewinn oder Verlust ausfallen würde und setze es dann in Relation zu der Berwertung. Dann kannst du mit Fakten deine Meinung unterlegen und auf welche fairen Bewertung du kommen würdest. Das wäre dann etwas was man diskutieren und Meinungen dazu austauschen kann!


Bisken sachlicher wäre lustiger. Auf Seite 405 habe ich beispielhaft vorgerechnet. Im Übrigen bist du nicht die heilige Inquisition. Rechne Du doch vor, dann nenne ich Dir den Rechenfehler. Hier einfach ein (gutes) Q auf ewig in die Zukunft zu extrapolieren...kann hoffentlich jeder, der eine Aktie kauft.

CC abwarten ist aber trotzdem gut. Wenn das "highgrading" plausibel erklärt wird, kann ich meine Meinung auch ändern.
27 Antworten?Die Baumansicht ist in diesem Thread nicht möglich.
Antwort auf Beitrag Nr.: 60.587.376 von tntxrxwelle am 17.05.19 00:06:08Ich habe es hier schon 2mal meine Position vorgerechnet und zwar unter der Annahme der für das Jahr herausgegebenen Zahlen. Also zu deutlich höhere Kosten als aktuell...du hast sogar drauf geantwortet.

Was hat es mit Inquisition zu tun, wenn ich dich bitte deine Meinung zu begründen und nicht dein Bauchgefühl kund zu tun?
Antwort auf Beitrag Nr.: 60.587.376 von tntxrxwelle am 17.05.19 00:06:08Tja, die Analysten stellen die richtigen Fragen, bekommen aber nur ausweichende Antworten. Ok Provencia hat outperformed (bis zu 2 Unzen/t ??). Sinkende Grades scheinen klar, wie viel wissen o. sagen sie nicht...in Q1cc waren noch die 11,x fürs Jahr genannt worden. Ist natürlich der wichtigste Rechenparameter.
25 Antworten?Die Baumansicht ist in diesem Thread nicht möglich.
Antwort auf Beitrag Nr.: 60.587.396 von tntxrxwelle am 17.05.19 00:17:31Naja, weiß halt auch nicht wie genau die Grade auf den nächsten Metern sein werden, sonst hätten sie ja auch gewusst, dass sie momentan bei 2(!) Unzen/t bei providenca abbauen. Sie wissen aber, dass der Schnitt bei mindestens 11g/t liegt. Momentan haben sie einfach Glück mit der unerwartet hochgradigen Zone. Deshalb habe ich auch die Zahlen vom mit 11g genommen und nicht die von jetzt aufs Jahr hochgerechnet! Selbst wenn alles, was du befürchtest Eintritt, dann wird hier immernoch jede Menge Geld verdient. Und sollte Gold noch steigen, dann macht es einen Großteil deiner Sorgen wieder wett. Bleibt der Goldpreis auf aktuellem Niveau oder singt gar auf 1200, werden sie trotzdem sehr, sehr gut über die Runden kommen.
Vielleicht gehen die Grade im einen Abbaugebiet runter, dafür aber in einem anderen hoch und alles bleibt auf dem jetztigen Niveau oder wird sogar noch besser. Immerhin scheint grad mit 60g/t auf providenca abgebaut zu werden...wer weiß das schon? Sie sagen im CC, dass momentan bei allen Minen es erstmal so weiter läuft, und später um die 1300 bis 1500t/day hinzubekommen, kommt neues matrial vom Bohren dazu, v.a. sarah K. Wenn du dir da die Bohrergebnissen ansiehst, dann wird es auch hier immermal wieder zu Abschnitten mit bis zu fast 3oz/t kommen.
Die Aktie ist meiner Meinung nach einfach billig, auch wenn alle deine Bedenken eintreten!
24 Antworten?Die Baumansicht ist in diesem Thread nicht möglich.
Antwort auf Beitrag Nr.: 60.587.468 von mjp584 am 17.05.19 01:53:13Unidentified Analyst

Okay. But, I think what you think is that probably the grades should stay at these levels which we have or what are you expecting? Because if the rates stay at these levels, and this means production will grow. But if the grades go lower and this is the reason for the expansion, then we will have the same production or what’s the reason for this expansion?

Lombardo Paredes Arenas The reason for this expansion is we are developing Sandra K for example. Sandra K is mine which is still in review. We are also drilling deep El Silencio in which we will find new material. And we are drilling some another areas which will add material. So, in relation to the lower grade -- the lower grade, well, it will be depend on how much material from the mining contractor will be incorporated into the process. Because we do not expect reduction in grades in El Silencio or in Sandra K. On Providencia, we will continue the same production this year and 2020. In other words, the new material will come from exploration.

Gran Colombia Gold | wallstreet-online.de - Vollständige Diskussion unter:
https://www.wallstreet-online.de/diskussion/1160906-4121-4130/gran-colombia-gold


Hier wird eigentlich recht klat gesagt, dass sie keinen Rückgang der Produktion erwarten. Die zusätzliche Kapazität der Verarbeitungsanlage wird nicht genutzt um niedrigere Grade aufzufangen, sondern weil durch sandra k und el silencio neues Matrial dazukommt.
23 Antworten?Die Baumansicht ist in diesem Thread nicht möglich.
super, danke dafür!

..also MARMATO-Expansion ca. 200 mio USD (auf PEA warten) , bis zur Expansion dauert es aber sicherlich noch 2-3 Jahre , Mill-Upgrade bald fertig , Toruparu mit teilweise gebrauchtem Equipement usw um das Projekt finanziell interessanter zu machen..

...Segovia läuft erstmal so weiter die nä. 2 Jahre , mehr Material von Contrakt-Minern zu erwarten und eventuell schon von Sandsprings Property in Segovia... ca. 1300T/Tag durch die mill in 2019..

klingt alles sehr gut...
Antwort auf Beitrag Nr.: 60.587.354 von mjp584 am 16.05.19 23:54:29besser den CC zuu lesen als "nur" dem Lombardo P. zuzuhören, den versteht man durch seinen spanischen Einschlag in der Sprache ganz schlecht im Gegensatz zu Mike Davis ;)
Antwort auf Beitrag Nr.: 60.587.482 von mjp584 am 17.05.19 02:07:52
Zitat von mjp584: Unidentified Analyst


Hier wird eigentlich recht klar gesagt, dass sie keinen Rückgang der Produktion erwarten. Die zusätzliche Kapazität der Verarbeitungsanlage wird nicht genutzt um niedrigere Grade aufzufangen, sondern weil durch sandra k und el silencio neues Matrial dazukommt.


Hmm, eigentlich wird hier "recht klar" ausgewichen. Die Frage ist laserklar: Gibbet mehr Gold p.a., wenn 1500 tpd produziert wird ? Die Antwort versucht das in die Richtung mehr Material zu ziehen...ach nee, logisch mehr Erz, aber darum gings nicht. Dann wird rumgeschwurbelt, dass 200 tpd 2019 nicht genutzt werden (Sinn erschließt sich mir nicht). Die wollten zumindest im CC die Jahresprognose zu diesem Zeitpunkt nicht hochquatschen.

Die Rechnung ist ganz einfach, Wenn jetzt mit 18 g/t produziert wird, aufs Jahr aber 11g/t rauskommen sollen, dann sind die restlichen 3 Qs bei 8,6 g/t. Bei 8,6 g/t verdient der Laden kein Geld.
Ich vermute allerdings, dass die ein wenig mit dem Providencia Erz rumschangeln, um die Grades einigermaßen hochzuhalten (im CC war von 2 Unzen die Rede, im Q1 Bericht aber nur von 30+g/t).
22 Antworten?Die Baumansicht ist in diesem Thread nicht möglich.
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