Ann: March Quarterly Production Report, page-28

Bought some today, looks like they are on top of costs which are on the low end of guidance range.
Gold sales and production substantially up from the last quarter.
They made a debt repayment of $5 million in February which indicates that their cashflow is adeqaute to service their debt for now.
In their last quarterly they state that they plan "to restructure a portion of the Project Loan facility which will reduce interest costs & provide more flexibility", if they can acheive that it will be very postive going forward.
It looks like they have half their gold sales hedged for the next few years, with the other half of gold sales they should be able to get the benefit from the rising gold price.
In their announcement they state "All-in Sustaining Cost (AISC) of A$2,093/oz" which IMO is very reasonable when you consider that includes: Cash Costs + Sustaining Capital + Exploration expenses + General & Administrative expenses.
With production increasing (target 200/per day), costs dropping with the improving stripping ratio and the rising gold price, CAI may not need to go to the market for a Capital raise? Particularly if they can come to agreement with Macquarie to restructure their debt.
At current market cap of $110 million they have to be the cheapest gold producer in ASX, with a plan to ramp production to over 120,000 oz pa.