I think you really need to understand accounting practice. It...

I think you really need to understand accounting practice. It may well be that "profits" are not spectacular but since their will be depreciation (non cash) is their ASIC I would consider that using stockpiles and depreciation for pre-stripping Missouri (which is cash already spent but still appearing in the ASIC as depreciation) you are both being unduly pessimistic. We already have been told that manpower has been reduced by 40% (probalble not that much with new hires in the quarter) but even with inflation we should see a build in cash. At the end of the last quarter cash and bullion was around $32M - I would be very disappointed if cash & bullion (including gold unsold) is less than $32m; after all during the quarter (but not since 1 July) the A$ gold price was about $2650 throughout the quarter. If it is then there should have been significant non sustaining (green field exploration etc) should have been made during the quarter - we will soon see.