Ann: March 2020 Quarterly Report, page-11

Hi stevea, when they have a margin of 500 USD/ oz (@ 1.100 USD AISC/oz), net cash increases by around 7.5 M USD per quarter. If they can keep the Costs at These Levels the margin should increase to around 600 USD / oz for the current quarter. If production Levels can be maintained that should equal to a net Profit of 9.0 Mio USD or 14.3 M AUD for the current quarter at a Gold Price of 1.700 USD/oz.

Anyway, they are generating surplus cash and the new decline has been postponed until the Covid situation eases which means there is time to build a proper war chest with the current margins and might even entice them for a dividend at the end of the FY.


Cheers