$37.8M free cashflow @ A$2,600 oz. py

$37.8M free cashflow @ A$2,600 ounce. Assume 2,100 ounces per month x 12 produced at ASIC of $1,100 per ounce. Mr. market has terribly mispriced valuation of BCN.

On a current monthly basis 2,100 ounces x $2,350 per ounce (part selling into a very small forward contract) produces free cash flow of $1,250 ($3,350 - $1,100 = $1,250) = $2,625,000 per month of free cashflow (EBITDA).

Cash and gold produced was worth $5,325,226 at December 30, 2019. So at end of March cash and gold total should be somewhere around $13.0M !!!!

Current spot is A$2,700 and rising. BCN are very smart operators and cash WILL be put to good use.