You are way too pessimistic, the figures are not an anomaly at all.First of all TRY still had hedges in the September quarter. You mitigate that by holding gold as long as possible. Then there was a debt repayment after end of the quarter. US$3m or A$4.2m. Brings cash levels down to A$10.4m.
Now we do know that the included "gold inventory" can be highly misleading. Gold inventory can be bullion but it could also be gold in circuit. How do we get the real cash figure? By assuming part of the gold inventory cannot be sold because it is in circuit and by comparing to the previous quarter. Gold inventories had been valued at A$3.9m end of June. Now (after debt repayment) we have A$1.6 in cash and A$8.8m in gold inventories (overall A$10.4m). Deduct A$3.9m from last quarter from the A$8.8m and you get A$4.9m minimum figure that is held in sellable form. A$4.9m gold + A$1.6m cash = A$6.5m, after debt repayment.
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