Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-18

Thanks bellcurve , good summary.

..."next quarter?"... I'm expecting improvement as they have mentioned processing at 9 g/t gold.

The ounces , along with head grade recovered, have definitely been in decline over the past 4 quarterly reports as has the tonnes that have been processed, however the realised gold price (in brackets )has been increasing.

Sept 23 - 2940oz ($2951) from about 12,000 tonnes processed. Head grade 7.83 g/t

Dec 23 - 1746oz ($3,055) from about 9,000 tonnes. Head grade 6.2 g/t

March 24 - 1597oz ($3,191) from about 7000 tonnes. Head grade 7.4 g/t

June 24 - 1330oz ($3,539) from about 7700 tonnes. Head grade 5.4 g/t


The improvements for this quarter will hopefully come from improved head grade and tonnage by adding ore from Dukes reef (15 g/t) to the low grade remnant ore (5.4 g/t)

Hypothetical best case for Sept 24 quarter;
10,000 tonnes processed at 9 g/t
10,000 x 9 = 90000 g = 2903oz
Multple by A$3750 = Revenue of $10.9M
Costs probably about $6M

According to a May podcast ( post no. 74764143) the real increase in revenue will happen in Jan/Feb 24, when the transformation from mining remnant ore to virgin ore will be completed.
The Nova carrot -12,000 tonnes @ 25 g/t , and A$4,000 spot price. (Revenue for the quarter $37.8M...current Market Cap $33.73M)


Back to reality - Risks
* Seismic activity
* Mine flooding
* Bush fires
* The elephant in the room - the dollar exchange rate.



GLTA