Fellow Shareholders, Previously i posted that I estimated the "cash burn" for the June quarter at between $15m and $22m?? limited comment so far although the share price has gone down From the cash report Exploration and evaluation $1.9m Production $25.8 Site costs $1.5m Staff cost $0.6 Admin and Corporate $2.4 sundry income ($.6) Property $2.6m Lease liabilities $2.2m Cash outgo $36.4m Ozs produced 10300 Cash per oz $3524 Net Creditors $15.4m as at 30/6/21 Implies if all suppliers paid on 30 days an annual spend of $180m excluding wages Minimum of 220 on site last week plus say 70 out on break Cost per body say $15k per month $3.3mper month or $40m pyear $220m out go per year 80,000 ozs =$2750 per oz 60,000ozs =$3666 per oz 50,000 ozs current run rate $4400per oz (4000ozs produced in July annualised 50,000ozs) Maybe the creditors are overstated and represent more than 30 day terms therefore the $220m comes down Three mine sites plus a treatment plant ,declared labour shortage Shares at 11.5 cents down from 37 cents August last year Comments from fellow shareholders welcome
OBM Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
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