If we don't have any unscheduled maintenance this quarter and...

If we don't have any unscheduled maintenance this quarter and the head grade stays the same (as predicted in the last quarterly), our output for the current quarter should increase to around 22.000 oz which is 10% more output than last quarter.

This would entail a reduction of AISC by ca. 10%, which would allow us to be producing at an AISC of around 1.350 USD/oz.

With a current average USD gold price of 1.900 USD/oz for the quarter, that would produce operating cashflow of 12,1 Mio USD for the current quarter (1.900 gold price - 1.350 USD AISC = 550 USD margin *22.000 oz production = 12,1 Mio USD).

After tax that should be around 10 Mio USD per quarter (or 40 Mio USD p.a.) at current spot, provided that head grade and output are staying at the same levels.

Our current EV is 33 Mio AUD (23,1 Mio USD), which means that within 6 months, the cashflow from the mine would cover our entire EV. Our market cap valuation does not get more ridiculous than that.

All imho.