Your point would be valid if they were actually doing any prestripping right now or a decline for underground mining, but they aren't doing either, so your point makes zero sense.
It actually should be a massive concern that they burned through $20million and haven't even started pre stripping the main pit yet.
So maybe you should get familiar with how to read a cash flow report because no one dollar of this $14million hole they burned, was "upfront development costs".
To just break even they need to squeeze another 6000 ounces out of the same dirt they are mining, with zero increase in production costs, just to break even before any "upfront development costs".
GL getting 18000 ounces out of that dirt this quarter, just to break even.
FFX Price at posting:
65.0¢ Sentiment: Hold Disclosure: Held
