Ann: Environmental Authority to Resume Open Pit Mining Secured, page-14

Yes your spot on Phantom1974. I calculated the annual rate and divide it by the full term. My bad.

Your also right on how hard it is to understanding the ongoing losses for the quarry / re-treatment as the company is not very transparent in the quarterly's.

Below is a post from the thread when they released the quarterly. I am on using the production costs and wages. Let me know what you think?

No No No gomer08 actually they don,t. I have already included that 5 in the 16.7 above. "+ 5 to come regal".
Yes there is cash coming in from the Quarry and re-treatment plant and It's not surprising Scottm likes your post, he also struggles understanding the financials.
So i will try and keep this as simple as possible for you guys.
For every dollar they put in the bank (Total sales / revenue / turnover ), they spent 2 dollars in production and wages. This results in NEGATIVE cash flow ( BAD ) That extra dollar then has to come out of the money raised to get the OC up and running. That totals up to be NEGATIVE $ 2.3 million for the 3 months. It looks like they will delivery the same result this quarter and burn another $2.3 million. Remember it is the wet season.

Frankly something is very wrong. Maybe it is me, I just can not understand how they could increase the throughput over the last 9 months but not the concentrate by anywhere near the same %.