june 2011 - quarterly review, page-21

Hi HC42,

In this thread, (Post #: 6959698), I talked of mine profit.

This is based on avg qtly price - C1 cash cost.

It is a good way to compare different companies, but cannot be used to determine a dividend. My number excludes Overheads, Depn and Amortisation, exploration expense, tax expense, interest (rec or paid), debt repayment, sale of non core assets etc (you get the picture).

So I would be careful in using the figure of $429m to calculate a dividend.

Also, with all the studies going on, I would suspect that they will not pay out the max, they will conserve cash to pay for expansion.

If I had to hazard a guess, I would say a divi of 40c per share (unfranked) for the June half would not be unreasonable.

HT1