Impact: Mildly Positive
Gran Colombia Gold announced solid Q4/20 and FY2020 production results from its operations in Colombia. Results are in-line with both the company’s guidance and our estimates, and the numbers have translated to the balance sheet, ending 2020 with a cash position of US$90M (up 7% YOY – excluding the cash in Caldas). We believe Gran Colombia has proven its ability to consistently generate cash flow, and we expect its share price to re-rate on the back of continued operational and exploration success.
