And not just Australian producers, Nicto. Our exchange rate is...

And not just Australian producers, Nicto. Our exchange rate is near parity with USD.

Compare the equivalent costs that SLR is providing with the MAJOR gold producers of this world, Barrick, Kinross etc. Their all-in sustaining costs of production are $1100/1200 per oz.

At current gold prices, there is no way that these global gold producers can replace production using cash flow to build their next mine. As financing has dried up and investors focus on cost reduction and financial discipline, global production will drop off a cliff.... and the industry will rapidly shrink.

At $A1300 and $3m free cash flow per month, SLR can't possibly fund Aldiss or Kundip developments organically. It can SURVIVE and focus on exploration targets near their mills... excellent new prospects as announced in the quarterly etc.

But funding new processing centres from cash flow at current gold prices? Forget about it.