Ann: Quarterly Activities Report, page-6

Unfortunately the cost of sales + admin costs over the past 2 full years for SML has been around the $50-60M mark, so assuming those costs are fairly constant, still looks like there's a bit more improvement to be had to get back to profitability. Given that revenue included the 'specials' held back from Q4, it might be another year or two before another profit is reported.

It does seem like the 100+ ct rocks have been a bit sparse lately, and they account for a significant proportion of revenue. Take them out and the Run of Mine sales would not be at all profitable.