trade opportunity? , page-11

Remember that we had a 2/3 of a quarter where one ore source was not contributing and massive royalty issues at another. The ore source issue had a compounding effect in that lower grade ore went through the mill, whilst fixed costs remained the same - thereby drastically increasing the cost per ounce. Management are surely aware of the royalty issue and should move away from this ore at Laverton. As long as operations are going smoothly we should be close to turning a profit in a full capacity scenario - based on past quarterlies. Admin costs could be paid for out of interest and development and exploration is essentially a precursive cost relating to mill expansion. If the mill(s) are expanded then we should be in the 900 ish per ounce range - a very good return for that drilling work. I do expect around a 30 million loss for the quarter just gone though as projected production was obviously lower than previous.

As always with this stock, in 6 months I think we should be truly firing.