The cost is much higher than spot gold price, page-3

As mentioned, AISC includes capital expenditure as well as exploration expenditure. You would want a mining company to do some investment. These investments will increase the book value of the company and will allow it to continue to produce.

It terms of cash flows, the company has more receivables 26 million than payables 13.5 million. It has a current account ratio of 3 to 1. It doesn't have much debt (less interest payments) and it does not pay dividends. These also need to taken into account.

The recent announcement was disappointing. I hope the company makes it calculations correctly from now on and makes conservative estimates. Plus inform the shareholders in time. If the company is not honest, shareholders naturally punish the company through dumping its shares.

Now what is going to happen to gold price I don't know. But (if you believe the company), the production is going to increase significantly and the AISC will decrease a lot two quarters later. And once this comes out to the market (and again if it happens) the share price will improve a lot compared to other companies.