where to with stone ?, page-36

Hi Stash I agree, it would cost $20M approx by the time you went through this mill properly and added the crushing circuit. Any expansion, and given the systems this would be warranted if you wanted to treat without BGSM, would cost even more than your upper end (obviously).

I don't think we are deluded however as their operations have improved greatly - fantastic progress in the business if not in the SP. I believe the financial turn around is in progress now only time will tell but the signs and noises are there.

I could not imagine FML wanting to stop treating at BGSM full stop - and believe FF is speculating on ways to sort Stone - but perhaps he is going down that tangent just to see what comes out in the wash. So Slura - TU I agree completely.

Pauljbo470 good comment on this I agree with you on that too. I hope FML takes this step on top of BGSM continuance and there is a model in the track record to suggest they would. They ramped 3MH and continued to toll treat at Greenfields initially. It was strategic - why change that model it worked. They even borrowed a bit and purchased mill spares ahead of full commissioning to mitigate risk.

Derham I hope they get a new deal done on BGSM and provide the certainty for the market very good point.

Caver I think FF is right on the cash. The cash level we have now 'official' is to end June - fact. BGSM campaign was completed 44 days from early July - fact, and some cash already received on that by now.

Early reporting on July showed either massive Laverton or massive Coolgardie production for July with circa 23k oz from memory. I would bank on no more than 8k - 9k from Coolgardie so first 30 days in Laverton must have been substantial enough to guestimate in the order of 23 - 24k this campaign.

So payment from half of that and 2 months almost at Coolgardie with little development spend ($2M) this quarter means the cash will be substantially higher. They should be able to retire the whole $8M debt this quarter and retain additional cash so net cash substantially higher.

pranav1980 thank you very much for the update this is valuable data - cheers.

I think the break is good for me I am on top of things here and enjoyed many of the comments in this thread. Good posting guys.

Best regards,
CW
DYOR&DD