Study the cash flow chart below. Negative operating cash flow of $7.7m (before investments). The component for Kal East is tiny ($1.5m) as only 452 ounces sold at Kal East were attributable to BC8 (my calculation based on revenues received in the cash flow statement and average price received of $4580/oz in the quarter). So 452oz + 2834oz (Paulsens sold) + 429oz (Paulsens unsold) = 3,715oz in the March Qtr. What do you think this chart will look like in March 26 when 3,715oz turns into 25,000oz? No more capital raisings unless for acquisition, today's announcement confirms it IMO.
BC8 Price at posting:
88.0¢ Sentiment: Buy Disclosure: Held
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