parabolic, page-45

If they can sell 900koz at $30/oz, that's $27M in revenue, or about half the current MC. I would call that commercial.

The question is, why did the production costs seem so high? In the qtrly, they quoted $5,559k as cost to produce 229koz of silver. That's some $24/oz. That is not very commercial production.

However, they did claim that operations were cash flow positive, I guess by definition that is commercial production.

Given half the production is hedged, every extra AUD in the PoS adds $400-$500k pa to earnings.