Ann: Jaurdi Gold Project July Production Update, page-38

Fair point about the $600k. No issues with the understanding of consignment stock. Pretty self explanatory wouldn't you think, going off the definition of consignment.

Yes, it was too much of a generalisation to make the assumption that all of the profit from production for the month should reflect in the cash balance. But going off the last two quarterlies;
June quarterly; Production, Staff, Admin and Corporate costs total $10.46 million or $3.49 million per month on average.
March quarterly, for the same costs total $7.59 million or $2.53 million per month.
Averaging over the total 6 months gives $3.01 million per month.

For cash to increase in July by only $0.94 million for the amount of gold sold it would mean that $4.63 million was spent (no mention of any capex by the way).

This is considerably higher than the average for the last quarter, and the average over the last 6 months. Even more so when AISC are decreasing. I understand that inventory isn't purchased on a month by month basis, and this will have a material affect on what is spent in a particular month. But it just seems that there's been bugger all profit made this month. Obviously for some reason I am missing (maybe @MetalBee can shine some light on this?).

Guess I'll just have to wait and see if a similar amount of gold sold in August or September, at a comparable realised price, will boost the cash balance substantially more than it has in July to balance it all out.