ERL (ASX) Ann: Further High Grade Copper Intersected at A Zone Prospect

Originally posted by Wolca ↑

Hi Bushblock, would you set me straight regarding the 7.5 mil to 10 mil free cashflow various people are mooting as profit from
the open pit. It is my understanding that the 7.5 mil free cashflow was to mainly pay back the loans ETC., and that for every
$100.00 AUD above $1,500.00 would bring in an extra $2 mil. If that is the case then the best outcome we can realisticall expect
would be around $2 mil profit from the open pit. What are your thoughts ? GLTAIH

Expand

Believed I had stated my estimates clearly below (Net Cash is profit pretax)
*JV has reported sales of approx $28m ...................................NOT 9.3m
*31st Dec 2017 10.3m
* 3rd Campaign 8.59m
* 4th Campaign 9.3m
* My spreadsheet currently predicts Sales $28~32M....COS (Loans production) $23.4M
Net Cash 4.6m >8.6m
NOTE these are JV numbers ERL 60% LOSERS 40%
Can try to embed Spd Sht but it is to many columns maybe you can
copy it back to excel good luck

Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Column 9 Column 10

0 Gold Price Grams/ounces

1 per ounce 0.0321

2

3 Campaign 1~ 3 1692.00 AISC

4 Campaign 4 1745.30 1698

5 ERL Announcements tonnes g/t grams ounces Recovered Esti Sales Reported Sales

6

7 1st Campaign Oct 2017 21710 2.39 51,886.90 1666 1579 2,818,144

8 3rd Campaign Burbank 28310 2.5 70,775.00 2272 2120 3,844,017

9

10 2nd Campaign Nov/ Dec lakewood 34347 4.02 138,074.94 4432 4138 7,499,292

11 up to 31st Dec Qtr Report 84367 3.09 260,694.03 8368 7837 13,260,204 10,300,000 ????

12

13 3rd Campaign 26/03/18 Lakewood 25771 6.55 168,800.05 5418 5061 8,593,578 8,593,578

14 4th Campaign Lake wood 28134 6.68 187,935.12 6033 5520 10,528,902 9,300,000

15

16

17 32,382,684 28,193,578 16,916,147 60% ERL

18

19 ERL Announcements Est Costs

20 Published ERL 31/12/17 Interim Report Dec borrowings JV Blue Cap 9,438,626 5,663,176 60% ERL

21 Other loans 277,927

22 Director loans D Sarge Director 339,159

23 Blue Cap facility agreement Feb2018 extension to 28th April 600,000

24 Blue Cap facility agreement extn to 15th May No costs indicated Esti 600,000 over stated?

25 ERL Annual Report 30th June 17. The cost of this funding, dependent on the amount of draw down, is pro rata up to a maximum of A$2.3 million payable from free cash flow…….Not sure I understand fully but lets assume Max Payable 2,300,000 over stated?

26 Published on ASX 1/5/18. The JV agreement with Blue Capital Services Pty Ltd to fund mining costs up to a maximum of A$7.5 million of which $877k is outstanding at quarter end.The JV owes a facility fee for the cost of finance of $4.0 million (These balances relate to 100% of the JV - ERL owns 60%). 4,000,000 over stated?

27 Surface Mining Expenses 6mths ending 31/12/17 6,829,321

28 Assume ave-mthly costs continued until pit bottom May 5 1,138,220 5,691,101

29 ESITMATED approx Costs to end of May 2018 23,246,813 13,948,088 60% ERL

30 Esti Sales Reported Sales

31 end of May 32,382,684 28,193,578

32 end of May Estimated COS -23,246,813 -23,246,813

33 CASH Balance 9,135,871 4,946,765

34

No.	Vol.	Price($)
2	860232	0.3¢

No.

Vol.

Price($)

860232

0.3¢

Price($)	Vol.	No.
0.4¢	13198507	16

Price($)

Vol.

No.

0.4¢

13198507

No.	Vol.	Price($)
2	213962	0.009
2	205000	0.008
2	300000	0.007
2	242999	0.006
1	1000000	0.005

No.

Vol.

Price($)

213962

0.009

205000

0.008

300000

0.007

242999

0.006

1000000

0.005

Price($)	Vol.	No.
0.010	873799	4
0.011	1121325	2
0.012	1374562	2
0.013	163000	1
0.015	40000	1

Price($)

Vol.

No.

0.010

873799

0.011

1121325

0.012

1374562

0.013

163000

0.015

40000

(20min delay)
Last 0.3¢		Change 0.000(0.00%)		Mkt cap ! $5.935M

Open	High	Low	Value	Volume
0.3¢	0.3¢	0.3¢	$86	28.59K

Ann: Further High Grade Copper Intersected at A Zone Prospect, page-12

Buyers (Bids)

Sellers (Offers)

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9	Column 10
0				Gold Price		Grams/ounces
1				per ounce		0.0321
2
3		Campaign 1~ 3	1692.00	AISC
4		Campaign 4		1745.30	1698
5	ERL Announcements	tonnes	g/t	grams	ounces	Recovered	Esti Sales	Reported Sales
6
7	1st Campaign Oct 2017	21710	2.39	51,886.90	1666	1579	2,818,144
8	3rd Campaign Burbank	28310	2.5	70,775.00	2272	2120	3,844,017
9
10	2nd Campaign Nov/ Dec lakewood	34347	4.02	138,074.94	4432	4138	7,499,292
11	up to 31st Dec Qtr Report	84367	3.09	260,694.03	8368	7837	13,260,204	10,300,000	????
12
13	3rd Campaign 26/03/18 Lakewood	25771	6.55	168,800.05	5418	5061	8,593,578	8,593,578
14	4th Campaign Lake wood	28134	6.68	187,935.12	6033	5520	10,528,902	9,300,000
15
16
17							32,382,684	28,193,578	16,916,147	60% ERL
18
19	ERL Announcements						Est Costs
20	Published ERL 31/12/17 Interim Report Dec borrowings JV Blue Cap			9,438,626	5,663,176	60% ERL
21	Other loans						277,927
22	Director loans	D Sarge	Director				339,159
23	Blue Cap facility agreement Feb2018 extension to 28th April				600,000
24	Blue Cap facility agreement extn to 15th May		No costs indicated Esti		600,000	over stated?
25	ERL Annual Report 30th June 17. The cost of this funding, dependent on the amount of draw down, is pro rata up to a maximum of A$2.3 million payable from free cash flow…….Not sure I understand fully but lets assume	Max Payable	2,300,000	over stated?
26	Published on ASX 1/5/18. The JV agreement with Blue Capital Services Pty Ltd to fund mining costs up to a maximum of A$7.5 million of which $877k is outstanding at quarter end.The JV owes a facility fee for the cost of finance of $4.0 million (These balances relate to 100% of the JV - ERL owns 60%).			4,000,000	over stated?
27	Surface Mining Expenses 6mths ending 31/12/17			6,829,321
28	Assume ave-mthly costs continued until pit bottom May	5	1,138,220		5,691,101
29	ESITMATED approx Costs to end of May 2018					23,246,813	13,948,088	60% ERL
30							Esti Sales	Reported Sales
31				end of May			32,382,684	28,193,578
32				end of May	Estimated COS	-23,246,813	-23,246,813
33				CASH Balance			9,135,871	4,946,765
34