Anyone spoken to head office, page-10

Yes , agree... really difficult to make money digging.. long term.. at a loss of $400 per oz (your number)....BUT think about the difference between C1 costs and AISC... and the effect that timing and production levels will have on these numbers in the future. C1 last report I think was abt $1390/oz.. current production.No-one invested in this company for production to top out at (say) 15,000 oz/Qtr (say 60,000 oz pa).The key is what is FUTURE C1 and AISC going to be...and how they get there.I'm yet to meet a financier that doesn't want "their share of the action"... but they are always there at a price.... particularly for project finance.Would really be nice to get an AIC (all in cash cost) measure but they are probably overworked at the moment.
So if asked, my advice to BLK would be "Keep digging up the gold; hard and fast...and look for the good stuff".... yes I have changed my sentiment to a "buy" as current SP appears based on current production (plus a big risk discount) Cheers