toll treatment, page-10

Informativeation, actually, I think the toll treating was not profitable. Crarg's method is right, we processed 254,719 tonnes (FML 164,919; LMA 89,800).
Total cash production costs were $16,950,000 ($15,589,000 + $980,000 admin & $381,000 royalties - as per the # note in the activities statement).
So our cost was 164,919/254,719*$16,950,000=$10,974,355

La Mancha & 6 days offline for maintenance cost is therefore $5,975,645....and we got about $3M in revenue for that expense. I don't think the 6 days offline makes up the difference so therefore the toll treatment agreement is and will run at a loss.

It is a positive that reserves now over 200K net of depletion. It's a negative that we will spend all cash we make next quarter, assuming similar results (September has the toll treatment too) given $21.5m expected cash outflows.

Certainly going to be some good chances to buy up in the next three months, but no need to jump in at the moment. Lots of options expiring in November for $0.05 or higher too.