Ann: September 2017 Quarterly Report, page-12

A mostly positive report, maybe that's why it's a week early or is it to coincide with the end of fighting today in Marawi?
Anyhow, they sold 27602 ozs @ $1274 or a margin of $301 giving a gross cash margin of $US8.3mil - that can't be half bad for a quarter!
And due to them using and not replacing some warehouse inventory and reducing the amount of VAT that they are owed by the govt.,they actually produced increased funds of $US11.2mil - this is reflected in increased cash of $US5.3mil and decreased payables/borrowings of $US5.9mil. I would say that's awesome but some would say I have a vested interest in saying so!
But there's always some minor negatives such as a further minor blowout in the timeframe to complete the E15 Service Shaft from maybe early Mar18 to maybe mid Apr18(at a guess). Another minor negative is major winder maintenance on the L8 shaft operation that could hinder production in this coming quarter unless they contracted to do it in the Xmas/NY week when all the catholic miners won't work anyway - so would have to expect decreased production in the Dec quarter. Also noticed broken ore inventory decreased from 45920 WMT @ 8.43 g/t at 30Jun to 34662 WMT @ 7.0 g/t at 30Sep. So don't think we can match tonnes mined or the high grade that was achieved in the Sep quarter.
But the Sep quarter's performance has taken the last of the worries away from any need for a capital raising so we can sleep easy on that front.
More quarters like this one and somebody other than Arbiter might actually notice us.