Until we see the June quarterly (within 20 days), we still have...

Until we see the June quarterly (within 20 days), we still have to do plenty of guess work !

The company only had $674k at the Bank at 31 March and estimated next quarter outgoings at $2 mill.
They have paid $316k to the Govt which I don't see in the next quarter estimates. So my guess is that just to remain with a positive Bank balance, they would have had to make sales of at least $ 2 million.

Making a few quick calculations based on the JORC Resource (see Everblu Report Dec 2016), we have 10Mt in the five pits mentioned in today's announcement averaging 14.6 cpht.

If the company aims for 1Mt production per annum for the next TEN years. That would yield 146,000 cts per annum.
At $500 per ct with a net profit margin of 70%, we come to a NET PROFIT per annum of $ 51 million.

If production increases to 2Mt per annum, the above numbers DOUBLE, but the ore from the FIVE pipes would only last 5 years. Don't forget about PALOMIDES !! 13.65Mt at 17ct pht.

If we throw Palomides into the equation, we now have in TOTAL 23.65 Mt at 16ct pht.
Even at 2Mt per annum, we have enough feed from the 5 pipes & Palomides for the next 12 years.
At 2Mt we get an average of 340,000 cts per annum for the next TEN years. NET PROFIT per annum $120 mill.

What is the current MC ? $22 million. Is this a joke ??

This GAME is finally starting to take shape.

We will have a much clearer picture over the next 3-4 months.