For those like yourself that may get a little confused attempting to extrapolate production costs from isolated Cash Flow statements, GXY management tried to save you the headache by putting actual production costs in a handy slide in the presentation. They even went to the trouble of seperating costs of goods sold from costs of good produced. As you can see there was a cash margin of US$82pt from Mt Cattlin, after taking into account selling costs, royalties and COGS. Production costs for the Half will be more representative of COGS for Half 2 and allow for a fall in concentrate pricing of around US$36pt to maintain the same margin. As you can see, there is no mystery to be solved regarding Mt Cattlin operating costs as its all set out in black and white. For posterity, I'll throw in a screenshot of the cash flow slide @colinchi keeps referring to.
GXY Price at posting:
91.0¢ Sentiment: Buy Disclosure: Held