45koz for the next 2 qtrs@$3,000 poz =$135m cash inflow. Costs...

45koz for the next 2 qtrs@$3,000 poz =$135m cash inflow. Costs should be close to previous known qtr (Sept23 $48m), so around $100m for March and June qtrs.

Profit from production $35m.

Exploration, development, admin, compliance etc will eat the $35m as there is also plenty of trade debt sitting on the books that needs to be paid down.

Whenever there is a change of plan, including contractors, it is usually a forced move to be seen to being proactive as things are tracking under previous expectations. PNR was offering higher production guidance than 77koz for the 23/24 financial year, 77koz is more realistic based on the grades being mined.

PNR is stabilising if 45koz can be mined this half year after a sluggish first 2 qtrs. Not brilliant but not bleeding so badly now.

A full year at 100koz will see $300m in cash and around $200m in production costs. There should be enough leeway to cover all expenditure and pay down the debt in a contolled manner, barring any unforeseen events.

Just my basic reading of things.