Ive been doing some more reading on AHK, still havent bought in....

Ive been doing some more reading on AHK, still havent bought in. Interested in others opinions here.

Looking at Mt Porter only:

26.7koz @$1700/oz, less AISC of $1350 (conservative)= $9.34 Million in Cash Flow over 1 year.

Now the Mill agreement with Newmarket Gold for processing is where a few of the previous comments seem to have missed. There is a $30/ton processing fee, Im not 100% if this applies to Gold Poured or Gold Processed, if its the latter then this is exbornant as 500k/tns at Mt Porter would have a Process fee of $14.8 million. Doesnt seem right.

Ignoring the above (until someone else clarifies), then the agreement is 55% ARK and 45% Newmarket, after all cash costs are paid.

So that $9.34 million (not deducting any process costs) would come back to $5.1 Million to ARK in FCF.

Then the debt.... theres $6 Million Loan to be paid in bullion + $1.44 million in Liabilities + $1.3 Million in a security payment to DME for the MMP.

That means debt of $8.74 Million.

So negating all the other costs (exploration, MMP for Glencoe etc), I cant see the next financial year being cash positive once debts are repaid. Infact it may be 1.5-2 years away atleast.