north american roadshow and capital raisings, page-2

Quarterly confirm my previous comments

The cash cost (C1) of the second campaign is about A$1397/oz (from appendix 5b to get production cost. Production cost/oz of gold produced= A$31.655m /to produce 22658 oz of gold = A$1397/oz.)

The cashflow is negative A$4.39m

The total cashflow for the last two campaigns is negative A$2.09m and hence it is not highly unlikely (or practically impossible) to get positive cashflow of A$50 for phase 1 operations/ with end date 31 December 2010 (it is hard for the next 2 or 3 quarters to get A$48m positive cashflow).


as always, DYOR