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drbubb

Gran Columbia (GCM.t) : 225,000 oz/yr Gold miner

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pg12 / Yr.End 12/31: C$2.82: US$2.055 -was 0.16% of $1281 Gold // TPRFF is $2.42, 0.19% of $1277.6 Gold at 22-Apr.19

GCM (in US$) found support at its old high of 7.8% of GDXJ, has bounced to 8.36%

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pg12 / Yr.End 12/31: C$2.82, $2.055 - & $1281 Gold price (0.16%), C$Gold was C$1715 (0.164%)

Update: 4/22/19:  C$3.23 v.$2.82 +14.5% in 2019 / 2-yr : 1-yr. Vs 200d : 377d.ma : 610d : 987d. : Mkt.Depth : SH-gcm :

Y8v5I22.gif

Vs. GDXJ: $29.55 vs. $30.22 : - 2.22%

Date------- : GCM.t: CAD$: $Price: ShOS MktVal : 8%-Debs: Date: Cash: EntValue / $Gold : OZ's/ Prd. years.: 221wt x12.2M
08/10/18: $2.44 x.761= $1.857 48.2M $89.5M: $98.0M: Est.: $28.0: $159.5M /$1219: 131k/200: 0.660: $0.23=$2.81M
10/02/18: $2.40 x.780= $1.872 48.2M $90.2M: $93.1M: Est.: $28.0: $155.3M /$1204: 129k/212: 0.609: $0.19=$2.31M
12/31/18: $2.82 x.733= $2.067 48.2M $99.6M: $83.4M: 12/31 $29? $154.0M /$1281: 120k/217: 0.554: $0.61=$7.44M
01/03/19: $3.18 x.741= $2.356 48.2M $113.M: $83.4M: 12/31 $29? $167.0M /$1295: 129k/217: 0.594: $0.97=$11.8M
01/04/19: $3.15 x.747= $2.353 48.2M $113.M: $83.4M: 12/31 $29? $167.0M /$1284: 130k/217: 0.599: $0.94=$11.5M
02/19/19: $4.42 x.757= $3.340 48.2M $161.M: $80.0 E : 02/?? $30? $211.0M /$1350: 156K/217: 0.720: $1.82=$22.2M
03/15/19: $3.71 x.750= $2.782 48.2M $134.M: $100.E*: 03/?? $50? $184.0M /$1296: 142k/223: 0.637: $1.41=$17.2M
04/22/19: $3.23 x.749= $2.420 48.2M $117.M: $98.5M : 04/30 $50? $165.5M/$1278: 129k/226: 0.573: $1.41=$9.32M

NEWS / Debt above includes $20M new unquoted debs

2019-03-14 08:06 C:GCM 3.69 News Release Gran Colombia produces 21,335 oz Au in February
2019-03-11 18:12 C:GCM 3.68 News Release Gran Colombia has M&I resources of 1.32M oz Au

==

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Gold linked Notes, Total Value Estimate: with Wt.B / vs.GCM / TPRFF : GCM.NT.U

UNITS:
Date : Gold: GCM : Ratio: G/1250 x57%+104%= Debs : Wt2.21: CAD : $USD : 124wt: Comb.: USD$: x512.8:
05/31: 1305: $3.03 : 431. : 104.4 : 59.5 +44.7= 104.2 : $1.40*x0.772 = $1.08 : 13.4% : 117.6 : $2.34: 1200 :
06/29: 1255: $2.88 : 436. : 100.4 : 57.2 +44.7= 101.9 : $1.30*x0.761 = $0.99 : 12.3% : 114.2 : $2.19: 1123 :
10/02: 1204: $2.40 : 502. : 100.0 : 57.0 +44.7= 101.7 : $1.14 x0.780 = $0.89 : 11.0% : 112.7 : $1.88: $964 :
12/31: 1281: $2.82 : 454. : 102.5 : 58.4 +44.7= 103.1 : $1.40 x0.733 = $1.02 : 12.6% : 115.7 : $2.06: 1056 : :
01/03: 1295: $3.18 : 407. : 103.6 : 59.1 +44.7= 103.7 : $1.55 x0.741 = $1.15 : 14.2% : 117.9 : $2.35: 1205 : :
01/03: 1295: $3.18 : 407. : 103.6 : 59.1 +44.7= 103.7 : $1.55 x0.741 = $1.15 : 14.2% : 117.9 : $2.35: 1205 :
=====: ==================================== : *est. Wt. value, x124 wts/deb
Last Col.: $1000/ 1.95= 512.8shs xC%2.52= C$1,292 x0.770= $995, Value of 1% Debs if Converted

GCM etc: GDXJ & MNT.t ... w/o Mux st 377d: w/MUX : w/SSP : st: GCM.t only : 12/10/2018: c$2.81 : c$17.58 : $27.76 :

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st:

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Date-----: GCM.t : MNT.t : 12.9%L// GDXJ  x10.0%H cad= GJcad: x7.7%
12/30/16: $1.40 : $16.48 : $2.13 //: $31.55 : $3.16 x1.350= 42.59: 3.28
12/29/17: $1.96 : $17.39 : $2.24 //: $34.13 : $3.41 x1.257= 42.90: 3.30
05/28/18: $3.29 : $17.71 : $2.28 //: $32.89* $3.29 x1.299= 42.72: 3.29 - High
06/30/18: $2.88 : $17.44 : $2.25 //: $32.70 : $3.27 x1.314= 42.97: 3.31
08/17/18: $2.13 : $16.35 : $2.11 //: $27.49 : $2.75 x1.306= 35.90: 2.76 - Low
12/31/18: $2.82 : $18.41 : $2.37 //: $30.22 : $3.02 x1.364= 41.22: 3.17
  2/19/19: $4.42 : $18.60 : $3.30 // $34.34 : $3.43  x1.321= 45.31: 3.49
  3/15/19: $3.71 : $18.27 : $2.76 // $32.10 : $3.21  x1.332= 42.76: 3.29
  3/22/19: $3.23 : $17.99 : $2.32 // $28.96 : $2.90  x1.337= 38.77: 2.99

=== : PRODUCTION
Mo.: Prod'17:  Prod'18: Prod'19:
Q1- :  39,008 :  52,672 : 60,601 >  +15.1%
Q2- :  46,075 :  52,906 > +14.8%
Q3- :   37.1 K :  57,163  > +54 %
Q4- :   52.0K :   55,260  > +54 %
===
July:  00,000 : 19,296 :
Aug.:  00,000 : 18,747 :
Sep :  00,000 : 19,120 :
= Q3 37.10K :  57,163 :
Oct.:  17.33K : 18,065 :
Nov:  17.33K :  18,193 :
Dec.  17.33K :  19,002 (aver.18.4k oz in Q4)
= Q4 52.00K : 55,260 :
——  Prod'17: Prod'18: Prod’19:
Jan.  00,000 : 00,000: 17,941  :
Feb.  00,000 : 00,000: 21,335 : New monthly record!
Mar.  00,000: 00,000: 21,325 :
= Q1 39,008 : 52,672: 60,601 : New Quarterly record!
12m: 000.0k: 000.0k : 225.9k   
=======================

2018: "218,001 OUNCES, UP 25% OVER 2017"
Guidance for 2019: 210-225k : Mid-217.5K
Cash; US$33M at YE'18, Debt @ $83.38M, end Jan.19. $78.5M, end Apr.19
$1.0552 /$1.00 @ $1294.3 /$1250
Deb. interest 8.25% x 1.0552= 8.705%

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Payment date: April 30, 2019 / GOLD NOTE Outstanding
Record date: April 23, 2019
Cash payment amount: Approximately US$0.0601384 per US$1.00 principal amount of Gold Notes representing an amortization payment of the principal amount issued and outstanding of approximately US$0.0584708 per US$1.00 principal amount of Gold Notes and a gold premium of approximately US$0.0016676 per US$1.00 principal amount of Gold Notes. The aggregate amount of the cash payments on the Payment Date will be US$5,014,035, of which US$4,875,000 will be applied to reduce the aggregate principal amount of the Gold Notes issued and outstanding. The Company sold the 3,900 ounces accumulated in the gold trust account during the past quarter at the London P.M. Fix on April 15, 2019 of US$1,285.65 per ounce to realize the proceeds required for this cash payment.
Principal amount issued
and outstanding:
As of today’s date, there is a total of US$83,375,000 principal amount of Gold Notes issued and outstanding. After this quarterly repayment, the aggregate principal amount of the Gold Notes will be reduced to US$78,500,000.

First Quarter 2019 Results Webcast

Gran Colombia also announced today that it will release its financial results for the first quarter of 2019 after market close on Wednesday, May 15, 2019 and will host a conference call and webcast on Thursday, May 16, 2019 at 9:30 a.m. Eastern Time to discuss the results.

 
Webcast and call-in details are as follows:
   
Live Event link: https://edge.media-server.com/m6/p/uxvva6ge

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GCM in US$ in Log scale

TPRFF ... 5 yr : 3yr : 2yrW :

S9YdgMx.gif

: 2yrW : 2yrD :

image.png

xx

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16 hours ago, drbubb said:

GCM in US$ in Log scale

TPRFF ... 5 yr : 3yr : 2yrW :

: 2yrW : 2yrD :

image.png

Hope there is a spike within those channels, I’m back to around half my highest position now, the lows of last 3 sessions tempted me to add back more.

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I am fully loaded now.

But I am more heavily into wt.B (than I used to be)

I still like the Chart... & the news flow here

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$6 TARGET... and More possibly

Red Cloud initiated research coverage on GCM this morning with a $6pt.

Execution key to re-rating to peers; additional upside possible . Our fair value estimate of C$6.00/sh is based on 4.0x our one-year forward, NTM EBITDA estimate of C$112M, suggesting 83% upside from current estimates. Gran Colombia trades at 1.6x 2019E EBTIDA, while peers are at 5.2x ...
 
We believe that continued operating and financial success should drive a re-rating, while the identification of a new high-grade zone at Segovia, along with the PEA at Marmato could drive our estimates materially higher. Upcoming Catalysts include 1) Q1/19 financial results (May 2019), 2) Exploration results (ongoing), Marmato PEA H2/19.
Read more at https://stockhouse.com/companies/bullboard?symbol=t.gcm&postid=29669492#UGpIg0miTJVzXp6m.99

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GOOD NEWS .

MARMATO Getting More massive with good grades

Gran Colombia Gold Announces Further Positive Results From Its Recently Completed 2018 Drilling Campaign at Its Marmato Project;
Files National Instrument 43-101 Technical Report For Its Segovia Operations

pril 25, 2019 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that it has identified additional high-grade intercepts over broad widths in the final eight holes of the infill drilling program started in 2018 (the “2018 drilling campaign”) on the Deeps Zone at its 100%-owned Marmato Project in Caldas, Colombia. The 2018 drilling campaign was undertaken to obtain additional information in conjunction with the ongoing technical studies and evaluations focused on the potential expansion of the underground mining operations at Marmato to incorporate the Deeps Zone below the existing mining operation, including the conversion of Inferred Resources to Indicated Resources.

Serafino Iacono, Executive Chairman of Gran Colombia, commented, “Our 2018 drilling campaign has increased our confidence in the geological model, extending the Deeps Zone to over 700 meters along strike, with an average width of approximately 165 meters and remaining open at depth and to the east. Results from the 2018 drilling campaign have also led to the discovery of a higher-grade zone that shows a grade constantly above 2.5 g/t Au which we will drill further in 2019 as the primary target zone for expansion of underground mining operations in the preliminary economic assessment technical study (“PEA”) to be completed later this year. A separate underground drilling program undertaken in the latter part of 2018 within the existing mining operation at Marmato has tested a block within the higher-grade zone that will be developed and placed into production later this year. All in all, we remain very encouraged by the progress we are making in the evaluation of the underground mining expansion opportunity at our Marmato Project."

The 2018 drilling campaign, which commenced in June 2018 with two diamond drill rigs operating from underground at Marmato, was completed in the middle of March 2019. In all, the 2018 drilling campaign comprised 24 drill holes totaling approximately 9,460 meters. The 2018 drilling campaign tested a block 400 meters high by 700 meters long below Level 21, currently the deepest level of the producing mine at Marmato. The 2019 infill drilling campaign, totaling 8,000 meters, started in March 2019 within the same block and has been designed to further delineate and extend down plunge the higher-grade zone outlined by the 2018 drilling campaign. It also aims to convert the remaining Inferred Resources within the higher-grade block drilled in the 2018 drilling campaign to Indicated Resources. The results from both the 2018 and 2019 drilling campaigns will be used to refine the current deposit model in conjunction with an updated Mineral Resource estimate to be included in the PEA.

(FOUR 100+ BOXERS)*

High gold grades generated from the eight additional drill holes totaling 3,789 meters reported herein include: drill hole MT-IU-017 which intersected 35.25 m at 3.09 g/t Au and 8.0 g/t Ag from 280.25 m to 315.50 m; drill hole MT-IU-018 which intersected 35.20 m at 3.72 g/t Au and 3.3 g/t Ag from 270.90 m to 306.10 m; and drill hole MT-IU-020 which intersected 12.18 m at 3.55 g/t Au and 5.8 g/t Ag from 339.52 m to 351.70 m.

In addition to the 24 drill holes in the 2018 drilling campaign, a total of 12 short underground drill holes, totaling approximately 950 meters, were also drilled from September to December 2018 to evaluate the mineral resource potential of a trial mining test block measuring 100 meters along strike by 60 meters vertically by 20 meters wide, located on Level 21 and hosting Deeps Style mineralization. A channel sampling program is being undertaken on the trial test block to reconcile grade, tonnes and ounces against the current mineral resources block model estimate and for stope design. Development of the test block is underway and mining is planned to commence in the fourth quarter of 2019.

The best high gold grades generated from the 12 short underground drill holes on the trial mining test block reported herein include: drill hole MND-16-18 which intersected 18.10 m at 3.63 g/t Au and 6.1 g/t Ag from 19.07 m to 37.17 m; drill hole MND-19-18 which intersected 30.45 m at 3.81 g/t Au and 6.3 g/t Ag from 13.39 m to 43.84 m; drill hole MNI-19-18 which intersected 19.69 m at 3.77 g/t Au and 8.6 g/t Ag from 0.00 m to 19.69 m; and MNI-21-18 which intersected 24.50 m at 4.47 g/t Au and 6.4 g/t Ag from 0.00 m to 24.50 m.

. . .
• The higher-grade zone, referred to as the Main Zone (“MZ”), outlined by previous drilling within the geological model at 1.0 g/t Au, has been extended further along strike with an excellent continuity over 550 meters, and an average downhole width of about 37 meters and a true width of 29 meters. All the intercepts in the MZ have grades greater than 2.0 g/t Au over downhole widths of 10 to 74 meters. This zone branches off to the west, and is still open to the east;
• The MZ also shows strong vertical continuity for more than 400 vertical meters, from Level 21 (1,020 meters amsl) down to 600 meters amsl, with an inferred further extension down to 200 meters amsl;
• The two New Zones of Deeps Style of mineralization, previously reported in the Company’s press release dated December 13, 2018, with grades between 2-3 g/t Au, are both confirmed and extended along strike and down-dip;
• A higher-grade zone has been confirmed within the MZ, which shows a strong continuity along strike to over 250 meters, with an average downhole width of 45 meters. All the intercepts that comprise this higher-grade zone show grades greater than 2.5 g/t Au over downhole widths up to approximately 160 meters;
 

Read more at https://stockhouse.com/news/press-releases/2019/04/25/gran-colombia-gold-announces-further-positive-results-from-its-recently#m7bK5h7mH84oMjuX.99

TPRFF / GCM's USD stock price ... update / last: $2.262 +0.114, +4.56% (C$3.52 +0.15 +4.45%)

GbM852k.gif

* "100 Boxers" are rare. When they get reported they usually move a stock price.

What is it?  It is when the Length (in m) x the Grade (in g) exceeds 100:

So on the extremes, this could be 100M x 1g, or 1M x 100g... or in the middle: 10M x 10g.

What is it worth?  At $1300, 100g of Gold is worth $41.80 x 100 = $4,180

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Solid support at 3.12 and high volume bar this past week. Thinking about adding 20-30% more shares to the position if it hits 2.92.

NdWZKpe.jpg

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Can also find price relationships met at today;s close ... update : $3.14

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The catapult may be set to launch it

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GCM / Gran Columbia Gold could be starting a Surge, with a 5% jump

GCM.t ... update / Last: C$3.31 +$0.16, +5.08%

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GCM.wt.B ... update / Last: C$1.67 +$0.07, +4.38%

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I bought some shares yesterday in Sandspring, where GCM owns XX%

SSP.v... update : vs.GCM / Last: C$0.16, UNCH.

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Yesterday, the closes were: $xx, $xx, $xx / wtB/GCM= xx, SSP/GCM= xx, SSP/Gcm.WtB= xx

DATE=C$: GCM.t Wt.B : Vol.  : Ratio: ITM-$: TimeV: %IV :  %442/ SSP.v : %Gcm
09/06/18: $2.16: 0.710, 00.0k : 32.9%: 0.000: 0.710 : 0.00%, 48.9/ $0.240, 11.1%
09/28/18: $2.25: 0.970, 00.0k : 43.1%: 0.040: 0.930 : 4.12%,  50.9/ $0.240, 10.7%
10/31/18: $2.32: 0.910, 66.8k : 39.2%: 0.110: 0.820 : 12.1%, 52.2/ $0.215, 9.27%
11/30/18: $2.53: 1.280, 22.1k : 50.6%: 0.320: 0.960 : 25.0%, 57.2/ $0.180, 7.11%
12/31/18: $2.82: 1.400, 00.8k : 49.6%: 0.610: 0.790 : 43.5%, 63.8/ $0.245, 8.69%
01/28/19: $3.36: 1.630, 26.7k : 48.5% : 1.150: 0.480 : 70.6%, 76.1/ $0.290, 8.63%
02/19/19: $4.42: $2.42, 69.4k : 56.8% : 2.210: 0.210 : 91.3%, 100./ $0.295, 6.67%: wt.High Close !
02/28/19: $4.40: $2.41, 15.9k : 54.7% : 2.200: 0.210 : 91.3%, 99.6/ $0.265, 6.02%
03/29/19: $3.67: $1.80, 30.5k : 49.0% : 1.440: 0.360 : 80.0%, 83.0/ $0.230, 6.27%
04/30/19: $3.34: $1.70, 12.3k : 50.9% : 1.130: 0.570 : 66.5%, 75.6/ $0.170, 5.09%
05/13/19: $3.31: $1.67, 08.5k : 50.5% : 1.100: 0.570 : 65.8%, 74.9/ $0.160, 4.83%
05/16/19: $3.69: $1.95, 08.1k : 52.8% : 1.480: 0.470 : 75.9%, 83.5/ $0.160, 4.34%
===================
Default seems to be: Wt.B trades at 50% of GCM.

SSP is down to under 5% of GCM.  So cheap, I could not resist buying some SSP.v shares

GCM.t -vs. SSP, etc. ... 1/2016 : 1/2017 : 1/2018 : 12mos: 10d : C$0.16 / C$3.31 = 4.83%

DQQMWPV.gif

2qIjseH.png

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SSP MktCap : 0$.16 x 210 Million shares = C$33.55 Million

GCM got its interest up to about 18%, by purchasing 2.5 Million shares in a private transaction
At a price of C$0.28 per share (x2.5M= C$700k ) C$33.55M x 18%= C$6 Million

"Through completion of the Transaction, Gran Colombia has increased its holdings in Sandspring to an aggregate of 37,500,000 common shares and 16,000,000 share purchase warrants.  Each share purchase warrant entitles the Company to purchase one additional share of Sandspring at CA$0.40 for a period of sixty (60) months. The 37,500,000 common shares represent approximately 17.88% of the outstanding common shares of Sandspring. Assuming that Gran Colombia but no other warrant holder exercises and holds its share purchase warrants, when combined with its existing ownership, Gran Colombia would have control and direction over 53,500,000 common shares representing approximately 23.71% of the then outstanding common shares of Sandspring." > source

210 Million x 17.88%= 37.5 Million shares of SSP held by GCM

Comments from SSP's Bullboards

29mcap minus $6mm cash = $23mm for 4mm ounces a gold

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Gran Colombia earns $7.9-million (U.S.) in Q1

GRAN COLOMBIA GOLD REPORTS FIRST QUARTER 2019 RESULTS; RECORD QUARTERLY GOLD PRODUCTION LEADS TO NEW HIGHS FOR REVENUE AND ADJUSTED EBITDA

Gran Colombia Gold Corp. has released its unaudited interim condensed consolidated financial statements and accompanying management's discussion and analysis for the three months ended March 31, 2019. All financial figures contained herein are expressed in U.S. dollars ("USD") unless otherwise noted.

Serafino Iacono, Executive Chairman of Gran Colombia, commenting on the Company's latest results, said, "Our previously reported record quarterly production has translated into some solid first quarter financial results which have started us off well in 2019. New quarterly highs were achieved in revenue and adjusted EBITDA while Segovia's quarterly cash costs reached a historical low of $570 per ounce sold. Our cash position at the end of March 2019 was $40.2 million, up $4.6 million since the end of 2018, and we continued to pay down our Gold Notes which currently have $78.5 million aggregate principal amount outstanding. Our 2019 drilling campaign at Segovia is moving along well and will be given the intended boost in the second half of this year with the net proceeds of the private placement of convertible debentures completed in April. Our technical studies at the Marmato Project are gaining momentum and we remain on track to complete a preliminary economic assessment later this year. With another 20,472 ounces of gold produced in April, our second quarter is picking up right where we left off in March."

First Quarter 2019 Highlights

The Company set a new record in the first quarter of 2019 with total gold production of 60,601 ounces, up 15% over the first quarter of 2018. Buoyed by head grades improving to an average of 18.8 g/t and a 19% year-over-year improvement in tonnes processed, gold production from the Segovia Operations increased to 54,386 ounces in the first quarter of 2019, up 17% over the first quarter last year. With another 20,472 ounces produced in April, the Company's trailing 12-months' gold production at the end of April 2019 now stands at 230,283 ounces, above the top end of the Company's total gold production guidance range for 2019 of 210,000 to 225,000 ounces.

Revenue reached $77.5 million in the first quarter of 2019, up 20% over the first quarter last year, largely driven by the production growth and a modest improvement in realized gold prices to an average of $1,298 per ounce in the first quarter this year despite a 2% year-over-year decline in spot gold prices. Revenue benefitted in the first quarter of 2019 from lower charges in a new refining contract that the Company entered into in January 2019 with an international refinery, saving $20 per ounce sold compared with its previous arrangement. The Company is also being paid faster under the new refining contract, a benefit to operating cash flow and reducing its credit exposure on trade receivables.

Production growth and the increase in head grades were key factors reducing Segovia's total cash costs (1) to a historical low of $570 per ounce, bringing the Company's total cash costs per ounce down to $621 per ounce in the first quarter of 2019 from $670 per ounce in the first quarter last year.

All-in sustaining costs ("AISC") (1) and All-in costs (1) in the first quarter of 2019 were $832 per ounce and $843 per ounce, respectively, both down from $920 per ounce in the first quarter last year. For 2019, the Company continues to expect that its total cash costs and AISC averages for the full year will remain below $720 per ounce and $950 per ounce, respectively.

The Company reported adjusted EBITDA (1) of $35.3 million for the first quarter of 2019, up 29% over the first quarter last year, bringing the trailing 12-months' adjusted EBITDA at the end of March 2019 to a total of $110.2 million, up 8% over 2018, driven by production growth and the reduction in total cash costs per ounce sold.

Net cash provided by operating activities in the first quarter of 2019 of $19.8 million, up 56% over the first quarter last year, improved the Company's Free Cash Flow (1) in the first quarter of 2019 to $11.3 million compared with $4.5 million in the first quarter last year.

The Company's balance sheet benefitted from the first quarter of 2019's operating and financial performance, increasing its cash and cash equivalents to $40.2 million at March 31, 2019 from $35.6 million at the end of 2018. As of May 15, 2019, the aggregate principal amount of Gold Notes issued and outstanding has been reduced through two quarterly repayments in 2019 to $78.5 million, down from $88.3 million at the end of 2018.

On April 4, 2019, the Company closed its bought deal private placement of CA$20.0 million of Convertible Debentures due 2024, adding approximately $13.6 million (after costs and expenses) to its cash position and $14.9 million to its long-term debt. The net proceeds will be used to fund an acceleration of the drilling program at the Segovia Operations over the next two years focused on mineral reserve and resource additions for further production growth and mine life extension.

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Excellent Results! GCM is still very cheap

US$ Mkt Cap : 48.28M x US$2.72 (+9.6%) = US$131.3 M

/ 12mos EBITDA ($110.2M) = 1.19 times EBITDA !

/ x4 Q1s EBITDA ($141.2M) = just 93% times EBITDA !!

GCM.t (C$3.69 +0.36) = TPRFF, us quote ... update: US$2.72 +0.25, +9.61%

bhkw9EY.gif

Adjusted EBITDA (1) of $35.3 million for the first quarter of 2019, up 29% over the first quarter last year, bringing the trailing 12-months' adjusted EBITDA at the end of March 2019 to a total of $110.2 million, up 8% over 2018.

CASH :

Rose from: $35.6 M > $40.2 M (3/19) > ?? Now?? +13.6M = $53.8 M?

DEBT:

Gold Notes fell from: $88.3 > $78.5 M (now)

Conv. Debs, rose from $0M > $14.9 M (C$20M, now)

Total Debt : $88.3M > $93.4 M (now)

The Company's balance sheet benefitted from the first quarter of 2019's operating and financial performance, increasing its cash and cash equivalents to $40.2 million at March 31, 2019 from $35.6 million at the end of 2018. As of May 15, 2019, the aggregate principal amount of Gold Notes issued and outstanding has been reduced through two quarterly repayments in 2019 to $78.5 million, down from $88.3 million at the end of 2018.

On April 4, 2019, the Company closed its bought deal private placement of CA$20.0 million of Convertible Debentures due 2024, adding approximately $13.6 million (after costs and expenses) to its cash position and $14.9 million to its long-term debt. The net proceeds will be used to fund an acceleration of the drilling program at the Segovia Operations over the next two years focused on mineral reserve and resource additions for further production growth and mine life extension.

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Chart & Bullboard Comments

if GCM can get thru C$4 and C$4.25, should be "off to the races"

5Zf0RkT.gif

RE: Q1

the enterprise value (fully diluted market cap + debt - cash) to  EBITDA (x4) ratio is less than 1.5x's.  such market valuation isn't merely irrational, it's utterly insane.  in fact, it's so unheard of in today's market, i don't even know what it can be compared to.
/ 2 /
yes, a lot of taxes paid in Q1 ...very good ..   without these payments the cash-balance would be some million USD higher   ... + inventory up (more stockpiles) ...
very good numbers at all ...    investment in the segovia mine will come down soon with mill upgrade completed in 4-6 weeks , tailings will be complete soon, filter press-installation will be completed soon, the same for ventilation-improvements...   so the free cashflow likely will rise sooner or later even with a bit higher cash-costs... appr. 7million spent on drilling and mine improvements in Q1 ... this will pay out over time... 
modernisation will be completed soon and more free cashflow is likely....
/ 3 /
net debt already is below 38 million USD because inventory up (some unsold gold and more ore at stockpiles) , most of 2019 taxes already paid , about 3 million at the gold trust + VAT recovery  ... net debt is below 30 million USD now   ...
Book value now is near 6 CAD.....    GCM is the strongest
/ 4 /

from the CC:

- 16 million USD taxes already paid in Q1 (less in the next quarters)
- 40-45 million USD in the mines this year (mine upgrades/studies/drilling)
- mining at Sandsprings project near Segovia very soon
-mining a higher-grade Zone at Marmato later this year (possibly lower AISC)

-Capex Marmato expansion less/near 200 million USD (very cheap for such a big project) (PEA later this year)
..very intersting...Q2 will be very good again...

Read more at https://stockhouse.com/companies/bullboard?symbol=t.gcm&postid=29753375#c5tecIjBtqgvY16W.99

 

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NEWBIES OPTION Calculation
rotax1 wrote: last warrant price was 1.95    so 2.21 + 1.95    4.16$ last share price was 3.69$ 0.47$  it the extra to pay for this option so now the warrant it is cheap or not?
====
BACK TO KINDERGARDEN, are we?
Don’t want to talk implied volatility? Okay. Can do.
Then consider this:
The warrant gives you finance of that $2.21 exercise price.
47 cents / $2.21 = 21.3%.
Warrant expiry is 2024, or about 5 years.
21.3% / 5= 4.25% before compounding.
And (also) this ignores the fact the with the wts, the $2.21 is NOT AT RISK.
So now, knowing a bit more,
Are the Options cheap or not?
Read more at https://stockhouse.com/companies/bullboard?symbol=t.gcm&postid=29760126#1WOfyeiyXyEaxug8.99

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"Retracing that gap up? " , Jerpy.

Yes, I think so too

GCM.t / Gran Columbia Gold .... update :

ugDbtnQ.gif

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