"options to improve working capital", page-8

4$ , I too wish you well with your trades , and hope that you are wrong in your assessment of the company's cash flow .

We all acknowledge that this quarter is going to be tight and we don't know the production levels for August and what they will achieve for. September .

I,would like to think that they will do between 150k to 180k oz in August and 200k in September . Total being 115+150+200= 465k oz .

This should give the company the following :

180k oz at $29 = '$5.220m
285k oz at say $27= $7.696m
Total revenue from sales - $12.916m + cash at bank $6m plus giving the company around the $19m mark less operating costs that were projected for the quarter of $17.5m , leaving $1.5m plus cost savings to pay for loan loan repayment which I believe would spread over a few quarters subject the cost savings amount.

In the next quarter after the one off expenses for this quarter have been removed iand the next quarters projected costs are released the September quarterly report , CCU should show a positive cash flow if they achieve their nameplate production levels of 200k oz per month.

This would mean that in the next quarter the possible revenue could be :

120k oz at $29 (being the remaining hedge at $29) = $3.48m
480k oz at $27 = $12.96m
Total revenue $16.44m.

The big question is what will be the operating costs for the December quarter!
4$ it is going to be close but I think we will scrape through.

Good luck to all.