Ann: Quarterly Activities and Cashflow Report , page-2

So having had a skim of it production costs are quite large at 3.8 million. However this is only the cash flow report and we know that Barrick are not paying all the revenue to KMC straight away. If we assume another 700,000 in production costs for the first 20 days of October this takes us to $4.5 million and another $500,000 for royalties for 3350 ounces of gold or $1490 per ounce. So it looks like we are profitable but not by much. I am happy holding and I don't think the market is right on this one as costs will fall significantly but we may have to wait a bit longer to see exactly how this is going. Any other thoughts would be appreciated.