I meant, until the start of the June 2014 year - that is, July 1st 2013. The loss making until then is derived from the company's statement that current production, being the same as the daily production of 2,500 to 3,000 ounces achieved during Q2, is not commercial. And that this production rate is what is targetted for 2012/13. Therefore, non-commercial production will continue for the rest of this financial year. I am understanding here than non-commercial is the same as unprofitable, and definitely cash-negative. You could have cash positive, but unprofitable, production, which would still be commercial.
If they can ramp up production to 1.5 Moz for 2014, which is Champ's assumption, not the company's, then perhaps that will be commercial. As the company hasn't indicated what a commercial level is, then we don't know.
AYN Price at posting:
3.2¢ Sentiment: Sell Disclosure: Not Held
