What a poor result. I love the way these gold companies report "cash costs".
Current Quarter
(a) exploration and evaluation (815,000)
(b) development (2,242,000)
(c) production (1,468,000)
(d) administration (1,065,000)
(e) purchase of other asset (2,080,000)
Only including (c)production in cash costs is very misleading.
1,468,000 divided by 3960 ounces = $371 "cash costs"
Who is paying for exploration, administration and development?
Extra costs per ounce
(a) exploration and evaluation $205
(b) development $566 (d) administration $268
(e) purchase of other asset $525
They would have to produce 15,000 ounces a quarter just to make $0. That is without any extra costs to development,exploration etc.
This result is also including stock piled ore also, which made the "cash costs" lower.
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