December production should turn cash positive. 18.5moz is around break even but there's a couple of one off cash payments this qtr. around $5m last payment for purchasing the remaining 20% equity of Dalgaranga tenements from the prospectors. And around $4m deferred payment to the mining contractors. Put those two capex style payments into the cash flow after producing 20koz leaves about -$8m as forecast. Achieve more than 18.5moz per qtr moving forward @ 25moz pq is around AUD$1700 per ounce pure profit. So, 6.5moz @ $1700 = $11m profit pq.
GCY Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held