So Q1 of 2009 had a loss of $8MM

it produced 3300 oz and those had a sell price of 1100 CDN i beleive = about $3.6 MM

which implies there total cost being around $11.6 MM for the quarter

Now assuming the cost should be about hte same as i dont beleive they did anythign major, no much change in staff and hours of operations we would have to sell about $12 MM worth of gold to break even.

the average price to be safe would be about 1000 so that would mean we need 12 000 oz to hit that target.

We know we have 6000 oz from hinge.

If we had 3300 oz last quarter from SG1 we should be able to replicate, that since both hinge devlepment was worked on plus mining in sg1 in Q1. Plus the mill was only running 50% of the time. SO assuming they continued there pace on SG1 and just added the bulk sample to the mill for the ohter 50% of the time they should in theory have enough time to do both the bulk sample and the regular SG1 stuff.

SO they should easily have produced 9300 oz.

So we should be about 9.3 MM revenue - 11.6 MM cost = $2.3 MM Loss on quarter = -0.01 per share.

Thats not bad.

next quarter we should be profitable. Come Oct - Nov when Q3 is out and showing CF Positive we should be at 4-5 bucks.