good luck..., page-4

Not good news. $1300/oz cash cost is well too high (add royalties, other costs etc) and it is above the POG. Also I don't like the use of "gold mined" as this doesn't reflect metallurgical recoveries (apparently 87% in the June qtr).

At a conservative estimate of $1450 AUD/oz, and knowing there is 950k in the bank and estimated outgoings of $22.6m, here is a few calculations for everyone to mull over.

15,000 oz produced = $21.75m + $950k = $22.7m ('break even')
16,000 oz produced = $23.2m + 950k = $24.1m
17,000 oz produced = $24.6m + 950k = $25.6m

DYOR as always.