The management sounded comfortable.
They stressed that 1000 tonnes of cons were transferred to Q2. Value appr 7.8M
D.Dimitrov also said that 2000 ounces of gold dore´in the circuit also was transferred to Q2
Value appr 3.5M. Means total of more than 10 MUSD.
Means that Q2 will be better than Q4.
Only one analyst was there : Doulis.
BUT his concern about working capital is important.
D.D. answered that :
- there will be no more draw downs / appreciation of Fabulosa loan. Instead pay backs, as BW said.
- Short term loans at Bolivian banks will decrease from appr. 10M to 7M in 2013
- Short term loan from Anglo Pacific of 3.5M will be paid off in June.
D.D. : We will start to accumulate cash during 2013.
AND Doulis was satisfied . So am I.
Copperwood : final permit is expected shortly.