ann out production and cash update, page-6

It's a good announcement. KMC making $600/oz on Barrick deal and production trending sharply up after slow start (maybe explains some sp softness). Heading for 35k oz next 12 months = $21m cash flow from which you need to deduct non-cash costs like development, exploration and head office. My guess on these figures is KMC heading toward about $12m pa net profit next 12 months. At 5.5c close only $19m mkt cap (assuming 345m shares). That's ridiculous on these production figures.

One aspect of funding the plant to remember is the MOU with PXG for 300kt pa ore throughput. Don't know terms of deal ($20/t? $40/t? depending on grades of PXG's ore) but this PXG throughput may provide KMC with the certain cash-flow to help justify financing of the plant.