They are now producing 1,500 oz Au per month (as per CEO Nov 15th CC, see below). This is (should be) a cash flow positive rate. The only produced 2,300 oz Au in all of Q2 and only lost $1M. Up production to a rate of 4,500 oz Au per quarter with costs pretty well fixed comparable to Q2 and do the math.
I really hope we don't now have to wait until mid-Feb 2013 to learn half of Q3 was profitable. And then mid-May 2013 to hear results of first consistently profitable quarter. Surely there will be material production news before then? My guess is mid-Dec operations update announcing permit in place for increased fluid flow, all expansion equip installed or at least on site, and quickly ramping up to projected rate of 2-2.5K oz Au per month rate by EOY.
James O’Neil: "Yes, we should be able to get around 1,500 ounces a month without this permit. That's pretty much where we were in April, May and June."