Yes this qtrly will be interesting. Dec-14 App5b stated cash...

Yes this qtrly will be interesting.

Dec-14 App5b stated cash outflows of $25.2m (excl transport)
Transport costs noted in 2013 technical report @ $0.26/lb, 6250t/qtr x 2,200lb/t= 13,750,000lbs x $0.26=$3,575,000
Jan-15 cash outflows north of $28.8m
Gerard Metals Repayment 1st qtr $75m/6=$12.5m+Interest, say $14m
Taurus interest on Debt = $75m x 11% / 4 = $2m
Total Outflows incl. debt servicing + interest ($28.8+$14+$2)= say $45m
Jan-15 cathode revenue, 6,250t @ say average price 5,800/t=$36.25m

Cash shortfall $8-10m??


Big Question?
Trade receiveables / copper cathode and copper concentrate available for immediate delivery as of Dec Qtr report was $23.2m

AND

A total of 9,610 tonnes of concentrate was sold during the Dec qtr for revenue of $16.4m at an average realised copper price of $6,148/t.........The majority of the remaining 8045 tonnes of concentrate was in transit to receiving smelters at the end of the Dec-14 qtr but revenue recognition policy means this revenue is booked in the Jan-15 qtr......


- Will cash outflows be per App5b Dec-14?
- Will transport costs exceed $0.26/lb?
- What are the transport / clearing costs for concentrate erode the revenue received for remainder concentrate sales?
- Will the net proceeds (after transport / clearing costs) of concentrate sales cover the shortfall?

lots of questions, fingers / legs and other things crossed....

gltah