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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: LoneClone3/14/2022 3:36:52 PM
1 Recommendation

Recommended By
Anchan

   of 78405
 
Today t Karora Resources aka KRR released their finacial results for last year, featuring record revenue of $264M and cash flow of over $106M. We already knew 2021 production reached the top end of guidance, and now we hear that costs were at the bottom end of guidance. But in spite of this, the impact of increased costs meant profits were down in 2021 compared to 2020. I am sure that It is hard to predict the effects of Covid, inflation, and supply chain issues on costs for 2022, but having begun mining at the high grade Sporgos open pit already, plus bringing into production newly-discovered mineralization at Beta Hunt plus the newly upgraded mill should help, as will the recent nickel discoveries at Beta Hunt.

They are sticking to the 2022 guidance released last month, 110-135k oz AU at an AISC of $960-1050/oz plus 450-550t Ni.

Message 33756772

As part of a long and detailed article on country risk in various Latin American mining nations, the IKN newsletter had a useful warning this weekend, that a stridently anti-mining candidate is a virtual certainty to win the upcoming Colombian election. So Colombia joins Ecuador and Nicaragua on my personal Avoid list. Note that even as certain elements continue to mistakenly fuss over the new Chilean president, Chile is definitely NOT on that list.

The PoG certainly got stretched to the upside last week, but the right side of this chart sure looks like the handle of a bullish cup and handle formation that stretches back a number of years. No doubt it is now in a period of consolidation but I would not be surprised to see it break out to higher levels over the coming months.



The chart of GDX is not quite a bullish as that of the PoG, but if the latter does break out, the former will certainly follow it up.

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