But I think the annual will only show an ebit of around $25m to $30m as management opt not to sell all the gold they produce and therefore reduce the actual proforma profit.
Our bullion inventory will be held at cost, with a footnote of it's spot value as at 30th june of say A$1400, which i believe will be some $20m less than its value at today's price of around A$1780.
I think greater interest will come after this half yearly when it should show production of over 40,000ounces-( Campaign 19 produced 13000 ounces and campaign 20 looks to be 25 to 30000 ounces) at gross margins of over around A$1200 to A$1300--some A$50m.
Noticed the A$ gold price went up today. But will still be a shitty day for all.
cheers
TBR Price at posting:
$2.55 Sentiment: LT Buy Disclosure: Held
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