Historical Volatility In Profitability And FCFPast swings between losses and profits show the business is exposed to variable ore grades, cost inflation and gold price sensitivity. That makes future cash flows less predictable, raises execution risk for multi‑period plans, and can constrain long-term investment or financing strategies.
Single-asset And Country ConcentrationHeavy dependence on one principal mine and a single country concentrates operational, reserve and geopolitical risk. Any extended outage, resource depletion, regulatory change or local infrastructure failure would have outsized impact on revenues and growth prospects until diversification is achieved.
Limited Scale And Operational DepthA relatively small workforce and business scale limit economies of scale and operational redundancy. Smaller producers face higher per-ounce costs and less buffer versus disruptions, reducing flexibility to pursue large expansions and increasing sensitivity to operational hiccups or market stress.