Private investor Thomas Bonovitz commented on the stock's sell-off, stating his belief that it represented a buying opportunity and expressed hope that the company was also repurchasing its shares.
Jorge Durant, President & CEO, acknowledged the comment and thanked the investor for his perspective. The company had previously stated in the call that it repurchased over 900,000 shares in Q1.
Private investor Thomas Bonovitz commented on the stock's sell-off, stating he viewed it as a buying opportunity and expressed hope that the company was also repurchasing its shares.
President and CEO Jorge Durant acknowledged the comment, noting that the company had indeed been active with its share buyback program in the first quarter, as mentioned earlier in the call.
Thomas Bonovitz, a private investor, questioned whether the Seguela mine would continue processing higher-grade ore in Q3 and Q4, following its use as a mitigation strategy for power outages in Q2.
President and CEO Jorge Alberto Ganoza clarified that processing higher-grade ore was a temporary measure. With full power restored from the national grid in July, the mine is reverting to its standard mining schedule. He advised that grades are expected to decline from Q2 levels, with the operational focus shifting to sustaining higher plant throughput and other optimizations.
Thomas Bonovitz, a private investor, asked about the future milling strategy at the Seguela mine. He questioned whether the company would continue processing high-grade ore to boost output now that power availability has normalized.
President and CEO Jorge Durant clarified that processing higher-grade ore was a temporary measure to mitigate the 19 days of power outages experienced in Q2. With power supply now stable, the mine is reverting to its original mining schedule, which will result in lower grades compared to Q2. He noted that future gains will come from optimizing and increasing plant throughput rather than from grade.