DRA must be very close to producing $10mA per quarter in net...

DRA must be very close to producing $10mA per quarter in net operational cash flow !! I note that they are still confident of producing 80000 oz in calendar 2009, which means averaging 22000 oz for the current and next quarters. Cash operating costs were $580US/oz in the June quarter, so you would think with a lift in production, those costs should come down. If US$ gold averages $960 for the current quarter, and with their final 1750 oz sold to clear the hedged sales, they must be on target to produce say $8mUS in net operational cash flow this quarter, and being fully unhedged, say $9mUS the following quarter. That, given their resources, exploration potential,and liquid assets, makes their current market cap of $65m seem a bit odd. It's a function, I guess, of where one sees US$ gold heading. If you think it's heading higher, then this stock is ridiculously cheap; if back to say $700US/oz, then, it's still probably cheap. Probably becomes marginal at about $600US/oz. Frankly, I do not see that happening.