they say CASH COST is $904. Production cost is always higher and I calculated it (since UML report smartly does not quote the exact figure) as : -- $ profit / oz = (net cash flow = $900k) / (# of oz = 4831) = $ 186 -- prod cost = (assumed $ received in Apr of $1472 [*]) - profit ~= 1450 - 186 = $ 1286
[*] : I had to assume some reasonable figure since report does not quote that figure either
Be careful how you treat the 'cash cost' - for example MML say that their cash cost is $300 !, but prod cost is ~ 3.5 times higher at approx $1078. The only gold producer I know of that lists all costs clearly in their reports is SLR.
UML Price at posting:
6.8¢ Sentiment: LT Sell Disclosure: Not Held