Yes prices are higher and there is no hedging, more than offsetting the gold production fall.
Assume a margin near the bottom cost range of $1300 per oz at Peak over AISC and $1000 per oz at Hera, using current gold price of $2680 per oz.
Gross profit is around $100 million, less growth capital $20 million, less exploration $24 million, less corporate/finance $10 million gives cash flow of $46 million before tax, compared with around $30 million last year.
Big change is deleting the $26.6 million hedging loss.Price rise offsets production fall. Growth capital falls, but exploration rises.
Market cap around $450 million. Looking ahead Kairos on stream last quarter this financial year and Federation to come.
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