Kookaburra, I agree that there should be some profit - but we...

Kookaburra, I agree that there should be some profit - but we have no idea what that should be. I think this is quite unusual for an emerging gold producer not to provide guideance on this front. 1.66g/t is very low grade relative to their previous production grades which was 11.8g/tonne.

Agree they have low cost of mining but the low grade won't actually produce much gold. 350,000tpa x 1.6 grams/tonne X 90% recovery = 504,000 grams gold. I believe this converts to approximately 16,000 ounces per year. Ramp up in January means end of financial year production could be less than 8000 ounces. Again given that we dont know production costs Im not sure how much money they will actually make from this. I would expect that they may start processing higher grade material later in the year perhaps? Anyway I doubt they will turn a profit this financial year.