When does the tide turn?, page-6

The March 2015 3rd quarter All In Sustaining Cost (AISC) is:

Source 31 March 2015 Interim Financial Report. $= USD

March 2015 Qtr: Production C1 Cost: 1.234 lbs @ $29.4/lb = $36.3m (pg7)
Admin Costs = $4.5m (pg 36)
Royalties = $0.4m (pg35)
Other expenses = $4.3m (pg36)
Capital Exploration Sustaining = $0.8m (pg14)
Total All In Sustaining Cost for December 2014 Qtr = $46.3m.
Production for March Qrt = 1.234m lbs
AISC for Mar 2105 Qtr = $37.52usd/lb.

The Dec 2014 Qrt AISC = $42.94/lb.  (see my post 3/3/15)

PDN has achieved this reduction in AISC by reducing:
C1 cost by $0.80/lb,  (PDN says in December report they are aiming for end of FY2015 C1 cost of $26/.lb.  So expect this to drop by other $3.40)
$1.9m reduction in royalties
$1.1m reduction in admin costs
$1.8m reduciton in other expenses
$1.8m reduction in captial exploration sustaining costs

If the June 2015 C1 cost drop to PDN's predicated $26/lb and June 2015 quarter costs are comparable to March 2015, then June 2015 AISC could be $34.12/lb

Today's spot price is $36.75.