Hey Mal185, even looking at the quarterly with the optimistic...

Hey Mal185, even looking at the quarterly with the optimistic frame of mind, the company should make about $35-40mil in a given year... A 1c increase in the NZD/USD exchange equates to about $12 million in additional costs over the coarse of a year. Given the NZD has appreciated to 88c from an average of 82c last quarter... I'm expecting only about $23-$28mil in profit going forward per annum. This equates to roughly 10 cents per share per year. I think the revised estimates for cash costs are still too optimistic given the assumption of an 88c xchange rate. The other problem the company is facing is wage inflation, the company is already offering increased salaries to retain and attract employment... this will feed further into the cash costs.

The reality of the situation is that the company does not have the necessary skillsets to manage the company in the current climate. If the NZ operations don't improve there'll be a cash shortfall for Dipidio. They have $166mil more of spending allocated to Dipidio, they have $54mil in debts due next year (and a further $110mil due in 2013)... and only $190mil in current cash.