Ok - I said my last post was it for today.... but I found I have time for one more!
I can't dispute your maths. As per the last quarterly:
- Total cash used in operations = $2.367m
- Total gold produced = 219 oz
$2.367m / 219 oz = approx $10,800/oz
Two points for readers to consider:
1. As per last quarterly (link below), majority of costs are attributed to development and commissioning ($1.261m), with $0 attributed to production costs (ie, OGX is not yet in full production mode). The ASIC will become an important indicator in the future, but it's premature at the moment to try and calculate them from the current commissioning phase OGX is still in.
Personally, I'm reserving judgement on this KPI until it becomes a viable indicator of the business's performance and viability. https://www.asx.com.au/asxpdf/20180731/pdf/43wz3kyqh875ps.pdf
2. As per the March quarterly (link below), total cash used in operations equalled $3.505m, with total gold production equalling 258 oz (and again majority is D&C costs at $2.2m, with $0 production costs). Hence $3.505m / 258 oz = approx $13,500, ie overall costs for gold production in Q2 have reduced. https://www.asx.com.au/asxpdf/20180430/pdf/43tm2pvbsmcv5x.pdf
OGX Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
