gmt what low cost of production ?.. don't get mixed up with the low cash costs that CTO keeps going on about as meaning low production costs.
This is an underground mine we are talking about here.
Low cash costs only relate to mining costs and they don't include the expensive and extensive tunnelling to get to the narrow gold veins (before it can get mined).
If you add the Development costs (upwards of $1,000/oz ?, but anyway you should be able to figure it out from the quarterly cash reports) to the cash costs of $500/oz let's say and then add admin, royalties, depreciation and amortisation, exploration drilling (what a waste of funds )- if it adds up to over $2,000/oz don't be at all surprised.
After all the company has been in production for years and
yet still relies on capital raisings.
This is an expensive and uneconomic underground mine with huge Development costs - if it was economic it would have been able to pay for itself years ago.
The company needs to ive us the full picture including Development Costs (Tunneling) and stop going on about low cash costs as if that's all there is.
Cash costs are only about a quarter to a fifth of the total costs.
Can't they draw a pie chart showing all their costs ?
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