Just for your information the cost price of the low grade can be...

Just for your information the cost price of the low grade can be estimated from the haulage [email protected]/tonne,(9.70$/t) milling and processing $40/t and mining costs ?(haven't published the strip ratio), however 40,605t was milled @1.9g/t Au and sold at an average gold price of $1200/oz. To mine ,mill and refine one tone of ore the costings are haulage $10+$40 for milling + mining ?. At an average gold price of $1200 one ton of ore is worth $73 so without mining, grade control,admin,refining costs there is $23 surplus to cover the above. The average goldfields open cut mining costs are $4/bcm of waste, $2/t for ore and $2/t for grade control. At a 1:1 strip ratio that equates to overall costs in the order of $58/t of ore mined and milled. The average strip ratio in the goldfields is generaly between 8:1 to 12:1 and taking the average of 10:1 gives you a mining cost of $44/t including waste, ore and grade control. This works out to overall costs of $94/t or cash /oz in excess of $1500. The $200/oz cash cost does not equate but they may be capatalizing the mining costs as capital developement for the portal. None the less there is no forward mining rate or anything that one can hang their hat on other than they have 118,000 ozes UG as their total resouce base and will be going to mine underground in the coming year. Yet believe it or not they are capped at $115my which when compared with Silver Lake Resources capped at 35my with a resource base of 1.5my, producing at 40,000 ozes/annum or Focus Minerals capped at $33my with a resource base of 1.8my ozes and producing 55,000 ozes/annum. I wouldn't be complaining about their share price.