Hiepn2_2005,To add a 'bit of meat' to my earlier, rather brief...

Hiepn2_2005,

To add a 'bit of meat' to my earlier, rather brief post.

At the operational level (ie before G&A, sustaining capex, D&A, etc) assuming they can keep their costs around the average level of the last 19 quarters, then these are a rough 'heads-up' of what cash you might expect them to be throwing off per tonne of ore processed:

PoG ... Profit (US$)
1000 .. 175
1200 .. 223
1400 .. 272
1600 .. 320
1800 .. 368
2000 .. 417

It then becomes a case of estimating what the PoG is likely to be going forward and, additionally how soon you might reasonably expect them to hit the new 750ktpa rate of ore throughput.

'Do the math'. It's quite exciting - at least to me!
AIMHO of course.
CPDLC