Ann: Revenue Generation Recommences-KBL.AX, page-70

So for the record, I have but a minor stake left in this company, however i felt it important to bring to attention the fact that everyone seems to think that the debts can be repaid from the existing operation without a future capital raising.
Let's be optimistic to the point of being exuberant and do the maths, assume $60m total debt. Assume AUD2,000 gold price. Assume AISC of each ounce is a mere AUD1,200 then you need 60,000 ounces of gold to repay debt. Now show me 75,000 of gold, show me a $2000 gold price and show me an AISC of AUD1200 per ounce and I will be convinced that the company can repay its debts within 2.5 years assuming 30,000 ounce annual production equivalent.

Remember that the prediction made by the company to lower C1 costs to US616per ounce was for the high grade Pearse deposit...what will the C1 costs be for the deposit with1/3 the grade? That is to say, assuming an AISC cost of AUD1,200 is optimistic in my view.