Fellow Shareholders,
Previously i posted that I estimated the "cash burn" for the June quarter at between $15m and $22m?? limited comment so far although the share price has gone down
From the cash report
Exploration and evaluation $1.9m
Production $25.8
Site costs $1.5m
Staff cost $0.6
Admin and Corporate $2.4
sundry income ($.6)
Property $2.6m
Lease liabilities $2.2m
Cash outgo $36.4m
Ozs produced 10300
Cash per oz $3524
Net Creditors $15.4m as at 30/6/21
Implies if all suppliers paid on 30 days an annual spend of $180m excluding wages
Minimum of 220 on site last week plus say 70 out on break
Cost per body say $15k per month $3.3mper month or $40m pyear
$220m out go per year
80,000 ozs =$2750 per oz
60,000ozs =$3666 per oz
50,000 ozs current run rate $4400per oz (4000ozs produced in July annualised 50,000ozs)
Maybe the creditors are overstated and represent more than 30 day terms therefore the $220m comes down
Three mine sites plus a treatment plant ,declared labour shortage
Shares at 11.5 cents down from 37 cents August last year
Comments from fellow shareholders welcome
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Fellow Shareholders,Previously i posted that I estimated the...
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