Shabandri,
I think your previous estimate of profits was a little bit optimistic.
My reading of the numbers shows:
Cash Costs $417 per ounce
Capital Costs $500 per ounce
Admin of about $7m per annum
Interest Costs $5m per annum
Extra finance facility costs $1.3m one off
Running these numbers through a spreadsheet and using a POG of $1350 I come up with EPS of 4.79c for 2011.
The question seems to be whether the Capital/Other costs includes the admin and interest. The way I read it is that these are not included hence my lower numbers.
How does everyone else see it?
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