Ann: Cannon 6th Processing Campaign Results, page-13

I decided to have a 2nd look at the 6th processing campaign.

SAU has produced 30,320 oz so far.

With 20,000 being sold at the fixed price of 1,530 and a production cost of 1,000 per oz (see nASX6D6SG5_SAU_1473126347.pdf from Sep 6th), that is $5.3m already in the pocket (50/50).

With the 6th campaign over, we have an additional 10,320 oz processed, and at the lowball price of 1,600 for the November-December period and the same costs, we get another $3.1m for SAU.

That is $8.4m in total, minus $2.7m destined to the working capital facility, leaves $5.7m so far to SAU.

And then we still have another 20koz to mine and process, and again, 50% of the cash flow will come to SAU. At an over-pessimistic 1,550 average, that is another $5.5m, so, a healthy $11.2m in the pocket, free of debt.