Another article, page-5

Based on C1 cash cost  guidance, I thought that  the P &L cash flow would be between 70c us and $1 us i.e. 94c au and $1.33 au. Which for 130 M lb is in the range of  $123m to $172m

Plus  the $65m of C1 cost that has already been spent  which should re-emerge from the balance sheet. (see note below from the annual report)

I'm hoping we will see cash flow of between $188m and $ 237m which over 571m shares is 33c to
41c

Which could just drive the share price over $1 if the mine live extensions come to fruition.



The Giant cutback investment (expenditure attributable to future earnings) capitalised in 2015 - 2016 is $65.1 million. At the end of 2016 this represented 94% of the cash outlay required to complete the cutback. It should be noted that guidance of C1 cash costs includes this attributable past expenditure, which is often overlooked when looking at cash requirements.

The company provides the following guidance for the current Financial Year ending 31 December 2017 (CY17) for the Kanmantoo Copper Mine:

• Copper produced 18,000t to 20,000t copper contained in concentrates
• Gold produced 5,500oz to 7,500oz gold contained in concentrates
• C1 Costs US$1.75 to US$2.05 per lb (at a 0.75 exchange rate)
• Capital Projects (excl. pre-strip) $1.8 million to $2.5 million