quarterly

Trying to work out what to expect from the quarterly due out in the next couple of weeks.

As at 30 June 10 we had $30.9m in cash, gold and receivables.

My spend assumptions:

$7.3 Cost to redeem notes
$1.3 Repayment of loan
$0.2 Interest
$2.5 Exploration
$1.5 Development
$1.0 Capital purchases
$13.8 total spend

Announcement on 1 October stated that we had approximately $24m now in cash, gold and receivables.

Based on my assumptions cash inflows would need to be around $6.9m. Last quarter this was around $10m.

What might $6.9m mean in production terms?

Production Assumptions:

$1,350AUD Average sale price
$650AUD Average production costs
$700 Net cash inflow

Assuming the above, this only equates to around 10,000 ounces for the quarter. We produced 14,249 this time last year.

We had produced 36,322 in the first 2 quarters and the company stated in the 1 Oct announcement that we are on track to produce 70koz for the year. So we need 36koz from the next 2 quarters and we know that the September quarter is often our worst, so I was expecting only around 15-16koz last qtr however it might be lower.

So I have either:

Missed $3.5m spend on something
Miscalculated production margins

or we are likely to see production for the quarter around 10koz.

Looking for some help trying to work this out.