The obvious question is if you believe it will go down to those...

The obvious question is if you believe it will go down to those levels why are you still holding? The last time I checked they still had 2.5 years worth of oxide to go through without any change to the mill. They are sitting on 20 mil plus in cash, no debt. I do not see a cr as inevitable. The significant figure for profits is the Aus gold price which is still up around 1750 because our dollar has gone down. I believe they are still looking at 75000 to 80000 ounces for the year.
Your near term observations on sp may turn out to be correct but long term I am not as pessimistic as you.