33c-40c Spike Call, page-38

I agree, have a look at the last AGM presentation.. They hedged 40koz @ A$1,486 for 2014. The averaged sale price for 2014 was A$1,421.

Have a look at slide 9 mentioned all sustaining cash cost of A$1,070/oz..

Slide 14 shown the true all in sustaining cost (including exploration) is $1,224/oz for 2014.. So they still made a small cashflow of 1,421 - 1224 = $197/oz ....
Where all that cashflow gone is hard to tell ..