The June Quarter

CTL has stated that the June qtr. will be better again than the March qtr - as we know in March the first 6 weeks were affected by plany refurbishment etx that saw only 1900 odd ounces in the 6 week period.

The mill now sounds to be humming at optimum capacity and better recoveries - this should see a stabilisation in operating costs - let's say at their targeted AISC 1000/oz (AUD).

We know the recently poured 660 oz in 1 week.  Wow for me.

So, if they maintain that rate in the June qtr, we'll see 12 x 660 oz = 7,920 oz.

Revenue - 1700 x 7920 = 13.46m

Costs - 7920 x 1000 = 7.92m

Net? 5.54 million

Of course, it all comes down to the grade of the dirt they mine and mill but wouldn't that be SWEET?

And demand a major market re-rating.