Company has stated C1 of 970/oz and 150,000 oz for the year.
The last three quarters have seen C3 costs roughly 20% higher than C1, implying C3 of 1164/oz.
Average AUD gold price for 1 July to 30 September was 1,620/oz. If we assume this average gold price for FY12, this implies $A68.4m cash flow from operations for FY12 (150,000 x [1620-1164]). Note current $AU gold price is $1700/oz.
C3 was $A1342 for Q4 FY11, so this is unlikely to plummet down to $1164 in Q1 FY12, so less than $A17.1 million this quarter.
NGF Price at posting:
19.5¢ Sentiment: LT Buy Disclosure: Held
