I am looking at the costs at the moment and am not sure if and how much gold has been sold. The production cost is like the cost inventory and there will be a write down to net realisable value. The gold price at end June was about $560 thus a write down on the quarter is ($602-560)x12724.
I am ignoring the year to date numbers as looking forward $602 may be a more realist cost. Unless there were once off costs. Any comments?
I too am new to gold stocks but think my logic is sound.
quarterlies, page-8
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