Ann: GRR - Quarterly Report for 3 months ended 30 June 2017, page-7

Really - your must have very low expectations
They have gone backwards 46 m in value for the quarter, if you add in the depletion of inventories. I was thinking about 25m

They are stating very clearly they still have "challenges" and expect things to improve by the second half.
"Improve " not hard from a 240 plus cash cost base.
Take away the debt and adjust for the drop
In inventories and receivables from 600k to 50k and these guys are weaker than they have been in the last 18 months while still having issues with their mine and production . You can guarantee a negative cash quarter this quarter as well
It really shows how leveraged they are to production and costs and if they can't get the mine performing well , the cash balance can easily deplete