Gold 1200 +, page-9

As I see it SLR should be cash flow +ve this quarter if they can get there production up to 30,000 ozs (that's the key) and can get A$1,400/oz for production above hedge.
If we take the last quarters costs and repeat is again for this quarter, I estimate the following costs for the current quarter:

	Column 1	Column 2
0	Income from 10k ozs in hedge of $1,542/ozs	$15,420,000
1	Income from 20k ozs @ $1,400/ozs	$28,000,000
2	Cash Costs from table 3 in last quarterly	$34,700,000
3	Cash Flow	$8,720,000
4	Lakewood	$5,000,000
5	Murchison C&M	-$1,900,000
6	Director Termination payments (Est)	-$1,000,000
7	Exploration (as last quarter)	-$3,400,000
8	Stamp duty (repayment to WA gov)	-$1,100,000
9	Est Net Cash for Oct/Dec quarter	$6,320,000

The breakeven is cash (excluding non cash items) AISC of $1,090/ozs at 30,000 oz production for quarter - the key to this is the gold grade.
At $1,400/oz PoG above the hedge they need to produce 25,500 ozs in the quarter (i.e 15,500ozs of gold @ A$1,400/ozs).