Ann: Quarterly Activities and Cashflow Report, page-11

Hi mate, the missing cost is the corporate admin cost of $1.9mil/qtr ($5.7mil for next 3qtrs). Using your assumptions and plucking the numbers into my spreadsheet, my figure ends up the same as yours(minus the $5.7mil) i.e. ~$14mil

I must say your assumptions will be the worst case scenario (i.e. extremely conservative) and therefore I am really puzzled why the issue of CR kept cropping when the figures are clearly saying that there is no need for CR.

One point that I had gleaned from the report is the use of Heffernans ore @ 1.4g/t. With this grade and milling at 700,000t, the production will be 29Koz/qtr. This will easily boost the cash by an extra of ~$4mil/qtr or ~$12mil by end of 2021FY.

Also it should be noted that ~$4mil extra was expensed for Sept qtr and if DCN is to keep to the budget then the next 3 qtrs cost figures will come down drastically.

Cheers.