The 7.4 x 12 figure is off the mark IMO.I would expect them to...

The 7.4 x 12 figure is off the mark IMO.

I would expect them to produce 23koz per quarter which would generate revenues of 31.7M at 1380$/oz. Deduct estimated costs of (per quarter figures) 5.2M for exploration, 1.9M for development, 14.5M for production, 0.9M for administration and 0.6M for interest payments, and we're left with 8.6M profit per QUARTER.

These are purely my guesstimates. I welcome all reasonably explained corrections to these numbers.

Keep in mind that they forward sold one year of production for 1383$ thus they can not profit much from current price increases above this level.

Once the expansion of the plant is fully commissioned, the figures could be slightly higher, to the tune of 100koz/a, maybe a bit more.