Ann: Investor Update Presentation, page-39

righto, so last quarter we produced 18,185 ounces, with sales at an average $3,054 AUD/oz , we operated at a $4.258m loss (1.9 on p13 of last quarterly) - total cost of $59m. If we can increase production for the quarter closer to the 25,000 ounce target (say 22,000 ounces) and keep costs in line, our production costs would be about $2,650 per ounce. This includes corporate costs, staff & interest. Bang on 50% above the guided 2025 AISC from the investor presentation (inline with industry standard as AISC leaves out a few things).
We should of achieved an average gold price in the vicinity of $2075 usd ($3200 aud).
Therefore I'm thinking we can hopefully generate a free cash flow of approx $12m being $550/oz
Even production of 21,000oz should generate approx $9m in free cash flow.

It would be great if we could have a quarter equivalent to West Gold at only 1/4 of the market cap

If we can consistently deliver free cash in the vicinity of $10m pa we should have a market cap of at least $500m, plus room to improve on production, further appreciation in the gold price, paying down of debt/ hence further increasing free cash (reduced interest cost), reduction in fed rate = a reduction in npv discount rate hence higher npv, hence higher market cap.

Free cash to support further drill & resource definition. Improvements to mill to increase production to 200koz pa.

How bout taking a page from RF's book, I want to see the heading of ASPIRE 200 in our next announcement