I will be happy with any level of profit per ounce. Even if it's...

I will be happy with any level of profit per ounce. Even if it's $50.

March quarter was all ramp up with associated costs. Commercial production was reached in April. Reducing costs began in May including a 10% reduction of staff. Assuming all cost cutting initiatives have been implemented before June, June will be the first month of the new normal operating expenditure. If costs are averaged out over the quarter it wont be pretty. If we can see costs of production for each of the months, we should see a nice trend developing which we can use to forecast profits.

Lets face it, the March quarter was not profitable. If it was, we wouldn't have seen the latest SPP. I expect the June quarter to be ugly, hence the cost cutting initiatives, but June monthly production costs should show this is a profitable company.

If % recovery can be improved we will see further reduction in costs per ounce. Ounces produced is more important than % recovery. Good recovery rates is a nice to have and with time this should improve along with the production costs.