Thx mackec.Costs reported from the last quarterly x 4.Production...

Thx mackec.

Costs reported from the last quarterly x 4.
Production $4,815m , Admin. $1,695m, interest and other finance costs $0.678m
Annualised = $28,752m

Therefore, 21,800 oz's of gold produced annually and sold into the hedge is all that's required to break even but at the 10:1 ratio of silver/gold, you'd also be getting about 210k oz's silver worth approx $6m of free cash-flow.

In that quarterly, LL appeared to be running at around 70% pm's recovery.

"Plant performance is improving and in the last week of the quarter, it was operating at 90% of design recovery in the flotation circuit and 78% in the carbon-in-leach circuit. Process recovery optimisation is continuing in the current quarter with an emphasis on improved performance of the flotation and carbon-in-leach processes."

69,000 oz gold forecast/annum x 70% = 48,300 oz's…..Am i right in assuming this is where you got the 49,000 oz's from in your calcs?

Therefore, if using 49k of gold at hedge, you'd have around $64m from gold and using the 10:1 silver ratio, you have to add 490k of silver at say $28, $14m for an approx total for pm's of $78m in sales.

Taking the above production costs out leaves $50m of free cash-flow or 6.35 cents/share on a fully diluted basis.

This at that time, was my take from the last week of the last quarterly annualised.

Now to the 19th Feb.

"PanTerra Gold Limited (ASX: PGI) (PanTerra Gold or the “Company”), advises that operations at its Las Lagunas gold/silver project in the Dominican Republic continue to improve with the first half of this month seeing plant feed, gold and silver grades, grinding circuit performance, and flotation circuit recoveries, now being close to meeting design targets.
Over the next two weeks, the Albion oxidation circuit is expected to reach design levels, and the following two weeks should see CIL recoveries substantially improved."

So what does the above statement say….For mine, i'd expect that to mean we're running at around the 90% of design recoveries mark or annualised to about 62k oz's and 620k of silver as of the 19th of Feb.

In fact, i'd be very disappointed if the "being close to design levels" rhetoric was below this mark.

Considering that they only need to produce 20k oz's of gold to turn a profit, this stock is absurdly undervalued…..Minimum 4 bagger from here for sure!