re: Ann: Quarterly Activities Report and Appe...
Quarterly confirm my previous comments in last post:
The cash cost (C1) of the second campaign is about A$1397/oz (from appendix 5b to get production cost. Production cost/oz of gold produced= A$31.655m /to produce 22658 oz of gold = A$1397/oz.)
The cashflow is negative A$4.39m
The total cashflow for the last two campaigns is negative A$2.09m and hence it is highly unlikely or practically impossible to get positive cashflow of A$50 for phase 1 operations/ with end date 31 December 2010 (it is hard for the next 2 or 3 quarters to get A$48m positive cashflow).
as always, DYOR
CRE Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
