rms morgan report, page-6

Hi karmalocust & braveheart,
Most of the vital info which will be in the Mar qtr statement has been already supplied to the market
(a) Production of gold to end of Feb = 25,568 ozs
(b) Production of gold to 31st Dec = 15,587 ozs
(c) Therefore production of gold Jan-Feb= 9,981 ozs
(d) Production of gold March = 7,614 ozs
(e) Therefore production of gold Mar qtr =17,595 ozs

March first month in full production was = 7,614 ozs
annualised(x12)=91,368 ozs
This meets IGR target of 90K ozs p/a

Suppose they sold their qtrs gold then that would be
about $24 mil of which $14.6 mil should be profit

If exploration etc has already been met by cap raise

Then cash in bank should be $13 mil @ 31 dec + $14.6 mil
= $5 mil to cash from cap raise totals:-
$32.6 mil cash.( guesstimate, could + or - 10%)

Surprises could be a further reduction in cost, more resource discoveries or higher production forecast.

What do you think?

Cheers Moorookamick