So from what I can gleen from their last quarterly the expected...

So from what I can gleen from their last quarterly the expected the following for the qtr.

4.1 Exploration and evaluation 200
4.2 Development 1,500
4.3 Production 15,000
4.4 Administration 750
Total 17,450

If the revenue is 5.5 + 5.5 +7.1 = 18.1 then they are still marginally cash flow positive for the qtr.

This assume their cost forecast for this qtr is correct. Interesting that costs for production in last qtr were only 10M but development was 4 so maybe its moving some costs around.

Anyway I'm expecting that their cash on hand increased again due to asset sell down ( around 2 million)
+ 700K from production

so Cash should increase from 12.7 to 15.4 Million.

Notwithstanding that this doesn't take into account their financing costs. Obviously they are keen to change the loan terms to free up cash for other expansion/development.

I'm a buyer at 14 cents and below.

If they are able to ramp up production to get revenue of 9million per month with costs at around 5-6USD per pound you can approximate that cash flow wise that about 1/2 of their income will be Cash flow. ( assume 4.5 Million USD per month)
Means CF per year 54 million USD or 51 Million AUD.

Assume full dilution from CN means CF per share 51/700 = about 7 cents AUD per share. Using multiple of 5 for cash flow implies fair value around 35 cents.

Now if they can reduce dilution from CN then all of a sudden you get 14 cents AUD per share.