huge result 113.5 million profit after tax, page-46

Been carefully sifting through the reports and findings are below. Welcome corrections to any errors. I think the doom and glom is over exaggerated.

As at December 31, they have 95m of debt to be repaid by 30 June (source: financial statements). This has subsequently been revised (announcement 25 march). Here are some numbers:

Production Q1 & Q2 2014 approximately 36koz per qtr (source Q2 2013 production without duck head).

Sales proceeds: 72 Koz x 1400 = 100m
Cost: 72 Koz x 679 = 49m. (Based on c1 cost from Q2 2013 due to lower output.

Gross profit / cash generated = 51m
Less sustaining cap cost = 10m
Net cash from operations = 41 m.

Cash balance at December 31 = 18m (9m cash + 9m bullion awaiting settlement)

Projected cash at 30 June before debt payments = 59m

As you can see, there is a shortfall and hence why they had to recast maturity profile.

I am guessing 25 m in march, and June balance in September

Production in September expected to be approx 60koz

Cash from sale = 60koz x 1400 = 84m
Cost = 60koz x 485 = 29m (based on cost for H2 2013)
Gross profit / cash generated = 55m

Less sustaining capital cost = 5m

Cash inflow from Q3 = 50m
Remaining debt per forecasted debt profile = 45m