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Topic: Q4 2020 (Read 107 times) previous topic - next topic
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Q4 2020

For me, the published results are bad. Cash flow from operations (excluding Metalla advances and sales) fell by a third from 84.6M to 51.2M. It is to despair that CDE does not manage to progress with the current prices of gold and silver!
The only small consolation is the positive update of the reserves!
What do you think ?
The price at the opening varies little, it is probably because disappointment has become a habit with CDE!

Re: Q4 2020

Reply #1 –
CDE results are disappointing, but comparing share price performance with AG and HL since the lows of last March paints a picture suggesting CDE is doing about as well as its peers. I read the paragraph on hedging again and cringed. Over the next two years that one move may make CDE the underperformer among its peers.

Re: Q4 2020 /Adam Hamilton

Reply #2 –
Adam Hamilton writes about the Silver Miners today: The rest of the top 15 SILs averaged much more reasonable cash costs of $ 7.49. Coeur Mining is also very successful. CDE costs are so excessive (13.46) that he stopped reporting all-in sustaining costs to hide them!
What do you think ? I have already asked the CDE management to publish the AISC and the production results at the end of the quarter, but to no avail ...

Re: Q4 2020

Reply #3 –
Quote from: andre171 on
Adam Hamilton writes about the Silver Miners today: The rest of the top 15 SILs averaged much more reasonable cash costs of $ 7.49. Coeur Mining is also very successful. CDE costs are so excessive (13.46) that he stopped reporting all-in sustaining costs to hide them!
What do you think ? I have already asked the CDE management to publish the AISC and the production results at the end of the quarter, but to no avail ...
Some things I believe very adamantly.
Adam is a great writer https://seekingalpha.com/article/4417265-silver-miners-q4-20-fundamentals
Silver is going to go much higher very soon. We have limited time to accumulate miners.
Select juniors and explorers will out-perform. We are very lucky to have so much quality information about so many of them here.
Diversification is very important. If something happens to an over-weight position, it can be disastrous.
Anyone producing will see their shares rocket unless they are over-hedged or have serious problems.
CDE will be fine. Not disclosing such important information is troubling. Being in an industry with so much corruption (JPM fined for manipulation, Perth mint defaulting, SLV prospectus change) transparency is so important as shareholder perception is much more important to share price than AISC or revenue, profits, even dividends.
I would bet that if you called Kieth Neumeyer at First Majestic, you could talk to him personally if you needed to.

For Entertainment Purposes Only.

Re: Q4 2020

Reply #4 –
Quote from: edthelorax on

Silver is going to go much higher very soon. We have limited time to accumulate miners.
Select juniors and explorers will out-perform. We are very lucky to have so much quality information about so many of them here.
Diversification is very important. If something happens to an over-weight position, it can be disastrous.
Anyone producing will see their shares rocket unless they are over-hedged or have serious problems.
CDE will be fine. Not disclosing such important information is troubling. Being in an industry with so much corruption (JPM fined for manipulation, Perth mint defaulting, SLV prospectus change) transparency is so important as shareholder perception is much more important to share price than AISC or revenue, profits, even dividends.
I would bet that if you called Kieth Neumeyer at First Majestic, you could talk to him personally if you needed to.
I agree with you in regretting the lack of transparency of CDE. When I speak to management, I only get evasive answers. I note, however, that you think that CDE will be fine because the money will go much higher very soon, I have also strengthened my position a little.

Re: Q4 2020

Reply #5 –
I want to see CDE break above the LONG term downtrend line in blue. A solid break above $10 should yield about $20 quickly.
For Entertainment Purposes Only.

Re: Q4 2020

Reply #6 –
May you be right about your target of $ 20.
Thank you for your analysis.