Ann: Company Update - Bullant Gold Mine , page-47

a few months ago, watso had a crack at calculating the the cost of producing an oz of gold - and came up with the following

from watso's original post

"the combined figures of the above, amount to about $1240 per oz - then add state royalties (who knows - maybe there is a royalty to the previous owners???) and then site services, and then depreciation."

bcn have just released a report, indicating that toll treatment costs are more like $80 per ton (watso was using $40 per ton) -so that is an extra $400 per oz - the state royalty is $50 per oz - so cost are about $1700 (australian dollars) per oz ..then add site services, and depreciation.

given that the company has run out money - then watso's numbers could be better than any previous estimate.

anyway, a recapitalization means that the original shareholders are wiped out (unless it is a pro rata issue to existing shareholders).

probably not worth putting in extra funds