Ann: Production to commence at historic Victorian gold mines, page-223

"and prove where I'm wrong and you're right. Can't do it?"

Yes,

There is a cost of development that should not be included in the production cost, (as that includes money spent on upgrading the plant and mining work to access the ore). Lets call it $300k instead of $700k so it can be more accurate. That would require $1.7m.

Using 85tpd for 6 weeks per quarter )which is not a true rate as its a lower rate so they can intervene to tune the operation) gives 2550t however,

"The Morning Star gravity plant will initially operate at a throughput rate of approximately 85 tonnesper day (tpd) on a week on/week off basis, which will increase as mining development andproduction advances. Current mine and processing plans provide for production output to scale upto 100 tpd on a single shift basis. AuStar Gold can move to double shift if required with furtheroptions being investigated by AuStar Gold management to increase capacity at the plant in thefuture"

So plant could go up to 12000t per quarter as it stands but can discuss this later.

The POG currently around $1860oz, so require ~914oz per quarter to be break even in this calc, so 26,000 grams.

So need 10gpt based off the current minimum plant run rate. The average mined grade of the morning star mine is 26.5gpt... 2.5x higher.

IMO running the plant at a higher rate would make the grade requirement fall to around 4-5gpt