I would take the ASIC as it is presented in the quarterly...

I would take the ASIC as it is presented in the quarterly report. With the stockpiled ore they paid to extract it and have it ready to run though the processing plant in a previous quarter. This stockpile was classified as an asset, as it contained gold and only needed to be scooped and transported to processing plant.

Once the stockpile is put through the processing plant, they need to add the cost of extraction incurred in a previous quarter (asset value), to ASIC to get a fair representation of the actual production cost, not just the production cost incurred this quarter. Though cash-flow will be better than expected as cash was outlaid to mine the stockpile prior to this quarter. I hope this makes sense.

My impression of the quarterly, was it showed persisting inflation in the cost of production, and SLR moving into the category of being reliant on the new higher price of gold in Aussie dollar terms. So despite gold being above $2700 Aus per ounce, nil bonanza cash-flow. I exited on open. But, would be happy to buy in at a lower price at a future date. I have used SLR for gold exposure recently, but after the quarterly SLR will likely be in the dog box and under perform a run in the GDX/ gold price. Though we are at risk of a gold/ gold stock pullback, given the recent strong run in gold. So I'm happy to have minimal gold exposure at present.