is value appearing or bad news pending, page-11

First it was the missing millions of MF Global customer money, and now it's the case of the missing millions of RMS shareholder money. But I'll give it a go (I've got nothing better to do on a Thursday night anyway):

31/9 Cash and gold = $90m + proceeds from raising = $49m
Total = $139m

31/12 Cash, gold & liquid investments (DRM or any equity purchase would be classed under this banner) = $110m

That is a discrepancy of $29m.
$4m for Barlee
$1m for Coogee

The discrepancy is now $24m
$4m for WD development capital
$6m for exploration activity
$2m for employee/director expenses (indeed they are being paid more though they are producing less)
$3m for administrative stuff inc raising expenses
$6m for MM development capital
-$1m for interest income

A discrepancy of $4m...
Which is easiest explained by losses due to WD mining and milling activity.

Revenue for the quarter was $10.3m
So mining and milling expenses at WD must have been $14.3m

Where'd you get the idea that they are generating cash from their gold operation? They're losing cash at the moment, whether it's temporary or lasting, we'll have to wait till we get some news on current mined grades.

Still waiting for the obligatory profit downgrade notice... and still astounded they didn't update the market sooner on the production downgrade; by the end of November it was clear to the management that only a miracle would get them to 16,000oz - ASIC might have something to say about that.