RE:RE:crunching Numbers...Attached is updated DMM financial projections. Columns to the right include the PEA numbers.
Did a bit of sensitivity analysis, and if DMM can maintain 412tpd, then DMM is cash flow positive at gold price under $1,020 with a 7.1 gpt gold being processed. This is using same numbers and data used in PEA for 2015
<br /> <br /> <br /> <br /> <table border="0" cellpadding="0" cellspacing="0" style="width:1110px;" width="1105"> <colgroup> <col /> <col /> <col /> <col span="3" /> <col span="4" /> </colgroup> <tbody> <tr height="20"> <td height="20" style="height:20px;width:242px;"> DMM</td> <td style="width:120px;"> Future 250 ktpa</td> <td style="width:90px;"> 3Q14 Est</td> <td style="width:94px;"> 2Q14</td> <td style="width:94px;"> 1Q14</td> <td style="width:94px;"> 4Q13</td> <td style="width:95px;"> PEA 2015 Qtr</td> <td style="width:95px;"> PEA 2016 Qtr</td> <td style="width:95px;"> PEA 2017 Qtr</td> <td style="width:95px;"> PEA 2018 Qtr</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Milled Tonnes Per Day</td> <td align="right"> 687</td> <td align="right"> 412</td> <td align="right"> 407</td> <td align="right"> 188</td> <td align="right"> 329</td> <td align="right"> 411</td> <td align="right"> 479</td> <td align="right"> 548</td> <td align="right"> 685</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Days</td> <td align="right"> 91</td> <td align="right"> 91</td> <td align="right"> 91</td> <td align="right"> 90</td> <td align="right"> 91</td> <td align="right"> 91.25</td> <td align="right"> 91.25</td> <td align="right"> 91.25</td> <td align="right"> 91.25</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Milled Tonnes Per Qtr</td> <td align="right"> 62,500</td> <td align="right"> 37,492</td> <td align="right"> 37,065</td> <td align="right"> 16,898</td> <td align="right"> 29,948</td> <td align="right"> 37,500</td> <td align="right"> 43,750</td> <td align="right"> 50,000</td> <td align="right"> 62,500</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Grade (gpt)</td> <td align="right"> 10.803</td> <td align="right"> 10.000</td> <td align="right"> 4.419</td> <td align="right"> 10.803</td> <td align="right"> 15.142</td> <td align="right"> 7.100</td> <td align="right"> 11.230</td> <td align="right"> 11.230</td> <td align="right"> 11.230</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Recovery</td> <td align="right"> 92.00%</td> <td align="right"> 92.00%</td> <td align="right"> 90.40%</td> <td align="right"> 94.70%</td> <td align="right"> 94.30%</td> <td align="right"> 90.00%</td> <td align="right"> 90.00%</td> <td align="right"> 90.00%</td> <td align="right"> 90.00%</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gold Ounces Produced</td> <td align="right"> 19,971</td> <td align="right"> 11,090</td> <td align="right"> 4,761</td> <td align="right"> 5,558</td> <td align="right"> 13,748</td> <td align="right"> 7,704</td> <td align="right"> 14,216</td> <td align="right"> 16,247</td> <td align="right"> 20,309</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gold Ounce Inventory </td> <td align="right"> 0</td> <td align="right"> -1,197</td> <td align="right"> -230</td> <td align="right"> 1,679</td> <td align="right"> -1,393</td> <td align="right"> 0</td> <td align="right"> 0</td> <td align="right"> 0</td> <td align="right"> 0</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gold Ounces Sold</td> <td align="right"> 19,971</td> <td align="right"> 9,839</td> <td align="right"> 4,531</td> <td align="right"> 7,237</td> <td align="right"> 12,355</td> <td align="right"> 7,704</td> <td align="right"> 14,216</td> <td align="right"> 16,247</td> <td align="right"> 20,309</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gold Price</td> <td> $1,300.00</td> <td> $1,288.00</td> <td> $1,282.19</td> <td> $1,297.63</td> <td> $1,268.34</td> <td> $1,300.00</td> <td> $1,300.00</td> <td> $1,300.00</td> <td> $1,300.00</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gold Revenue</td> <td align="right"> 25,962,508</td> <td align="right"> 12,672,632</td> <td align="right"> 5,809,173</td> <td align="right"> 9,390,956</td> <td align="right"> 15,670,352</td> <td align="right"> 10,015,359</td> <td align="right"> 18,481,395</td> <td align="right"> 21,121,594</td> <td align="right"> 26,401,992</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gold Revenue</td> <td align="right"> 25,962,508</td> <td align="right"> 12,672,632</td> <td align="right"> 5,809,173</td> <td align="right"> 9,390,956</td> <td align="right"> 15,670,352</td> <td align="right"> 9,522,526</td> <td align="right"> 17,906,420</td> <td align="right"> 20,462,120</td> <td align="right"> 25,580,598</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Silver/Other Revenue</td> <td align="right"> 804,838</td> <td align="right"> 392,852</td> <td align="right"> 190,129</td> <td> 286,628</td> <td> 266,780</td> <td> 492,833</td> <td> 574,975</td> <td> 659,474</td> <td> 821,394</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Operating Revenues</td> <td align="right"> 26,767,345</td> <td align="right"> 13,065,484</td> <td align="right"> 5,999,302</td> <td align="right"> 9,677,584</td> <td align="right"> 15,937,132</td> <td align="right"> 10,015,359</td> <td align="right"> 18,481,395</td> <td align="right"> 21,121,594</td> <td align="right"> 26,401,992</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Mining & Processing-Fixed</td> <td align="right"> 4,058,117</td> <td align="right"> 2,705,411</td> <td align="right"> 2,607,391</td> <td align="right"> 2,381,586</td> <td align="right"> 2,598,122</td> <td align="right"> 2,226,500</td> <td align="right"> 2,597,583</td> <td align="right"> 2,968,667</td> <td align="right"> 3,710,833</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Mining & Processing-Variable</td> <td align="right"> 7,179,838</td> <td align="right"> 4,292,020</td> <td align="right"> 4,014,728</td> <td align="right"> 3,531,102</td> <td align="right"> 4,903,179</td> <td align="right"> 4,007,750</td> <td align="right"> 4,675,708</td> <td align="right"> 5,343,667</td> <td align="right"> 6,679,583</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Refining/Shipping/Concession</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td align="right"> 336,750</td> <td align="right"> 339,500</td> <td align="right"> 342,000</td> <td align="right"> 347,500</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Royalties</td> <td align="right"> 1,204,531</td> <td align="right"> 587,947</td> <td align="right"> 379,238</td> <td align="right"> 373,366</td> <td align="right"> 794,852</td> <td align="right"> 450,070</td> <td align="right"> 830,517</td> <td align="right"> 949,162</td> <td align="right"> 1,186,453</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Depreciation/Depletion</td> <td align="right"> 2,066,756</td> <td align="right"> 1,215,739</td> <td align="right"> 1,215,739</td> <td align="right"> 1,105,450</td> <td align="right"> 1,418,870</td> <td align="right"> 530,000</td> <td align="right"> 570,000</td> <td align="right"> 610,000</td> <td align="right"> 675,000</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Mining Expenses</td> <td align="right"> 14,509,241</td> <td align="right"> 8,801,116</td> <td align="right"> 8,217,096</td> <td align="right"> 7,391,504</td> <td align="right"> 9,715,023</td> <td align="right"> 7,551,070</td> <td align="right"> 9,013,308</td> <td align="right"> 10,213,495</td> <td align="right"> 12,599,369</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gross Profit</td> <td align="right"> 12,258,104</td> <td align="right"> 4,264,367</td> <td align="right"> -2,217,794</td> <td align="right"> 2,286,080</td> <td align="right"> 6,222,109</td> <td align="right"> 2,464,289</td> <td align="right"> 9,468,086</td> <td align="right"> 10,908,099</td> <td align="right"> 13,802,623</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> G&A Expense</td> <td align="right"> 1,600,000</td> <td align="right"> 1,100,000</td> <td align="right"> 917,209</td> <td align="right"> 1,113,800</td> <td align="right"> 1,454,531</td> <td align="right"> $1,113,250</td> <td align="right"> $1,298,792</td> <td align="right"> $1,484,333</td> <td align="right"> $1,855,417</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Stock Based Compensation</td> <td align="right"> 39,236</td> <td align="right"> 39,236</td> <td align="right"> 39,236</td> <td align="right"> 95,327</td> <td align="right"> 22,419</td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Net Income Before Tax</td> <td align="right"> 10,618,868</td> <td align="right"> 3,125,131</td> <td align="right"> 0</td> <td> </td> <td> </td> <td align="right"> 1,351,040</td> <td align="right"> 8,169,295</td> <td align="right"> 9,423,765</td> <td align="right"> 11,947,207</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Employee Part Tax @ 15%</td> <td align="right"> 1,592,830</td> <td align="right"> 468,770</td> <td> </td> <td> </td> <td> </td> <td align="right"> 202,656</td> <td align="right"> 1,225,394</td> <td align="right"> 1,413,565</td> <td align="right"> 1,792,081</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Income Tax @ 22% - EPT - NOL</td> <td align="right"> 1,985,728</td> <td align="right"> 412,517</td> <td> 0</td> <td align="right"> 27,565</td> <td> </td> <td align="right"> 178,337</td> <td align="right"> 1,078,347</td> <td align="right"> 1,762,244</td> <td align="right"> 2,234,128</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Net Income</td> <td align="right"> 7,040,310</td> <td align="right"> 2,243,844</td> <td align="right"> -3,174,239</td> <td align="right"> 1,049,388</td> <td align="right"> 4,745,159</td> <td align="right"> 970,046</td> <td align="right"> 5,865,554</td> <td align="right"> 6,247,956</td> <td align="right"> 7,920,998</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Cash Flow (NI + Deprec/Depl + SBC)</td> <td align="right"> 9,146,302</td> <td align="right"> 3,498,819</td> <td align="right"> -1,919,264</td> <td> </td> <td> </td> <td align="right"> 1,500,046</td> <td align="right"> 6,435,554</td> <td align="right"> 6,857,956</td> <td align="right"> 8,595,998</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Shares Outstand+Options <$3</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> <td align="right"> 44,574,583</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> EPS-Diluted</td> <td align="right"> $0.158</td> <td align="right"> $0.050</td> <td align="right"> -$0.071</td> <td align="right"> $0.024</td> <td align="right"> $0.106</td> <td align="right"> $0.022</td> <td align="right"> $0.132</td> <td align="right"> $0.140</td> <td align="right"> $0.178</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Shareprice-Annual EPS w 10x PE</td> <td align="right"> $6.32</td> <td align="right"> $2.01</td> <td> </td> <td> </td> <td> </td> <td align="right"> $0.87</td> <td align="right"> $5.26</td> <td align="right"> $5.61</td> <td align="right"> $7.11</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Cash Flow Per Share</td> <td align="right"> $0.205</td> <td align="right"> $0.078</td> <td align="right"> -$0.043</td> <td> </td> <td> </td> <td align="right"> $0.034</td> <td align="right"> $0.144</td> <td align="right"> $0.154</td> <td align="right"> $0.193</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Silver %</td> <td align="right"> 3.1%</td> <td align="right"> 3.1%</td> <td align="right"> 3.3%</td> <td align="right"> 3.1%</td> <td align="right"> 1.7%</td> <td align="right"> 5.2%</td> <td align="right"> 3.2%</td> <td align="right"> 3.2%</td> <td align="right"> 3.2%</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Cash Costs</td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> COGS</td> <td> </td> <td align="right"> 8,801,116</td> <td align="right"> 8,217,096</td> <td align="right"> 7,391,504</td> <td align="right"> 9,715,023</td> <td align="right"> 7,551,070</td> <td align="right"> 9,013,308</td> <td align="right"> 10,213,495</td> <td align="right"> 12,599,369</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Change in Inventory</td> <td> </td> <td align="right"> 400,000</td> <td align="right"> -196,028</td> <td align="right"> -520,408</td> <td align="right"> 910,674</td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Less Depreciation/Depletion</td> <td> </td> <td align="right"> -1,215,739</td> <td align="right"> -1,215,739</td> <td align="right"> -1,105,450</td> <td align="right"> -1,418,870</td> <td align="right"> -530,000</td> <td align="right"> -570,000</td> <td align="right"> -610,000</td> <td align="right"> -675,000</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Silver by-product</td> <td> </td> <td align="right"> -392,852</td> <td align="right"> -190,129</td> <td align="right"> -286,628</td> <td align="right"> -266,780</td> <td align="right"> -492,833</td> <td align="right"> -574,975</td> <td align="right"> -659,474</td> <td align="right"> -821,394</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> G&A w/ SBC</td> <td> </td> <td align="right"> 1,139,236</td> <td align="right"> 956,445</td> <td align="right"> 1,209,127</td> <td align="right"> 1,476,950</td> <td align="right"> 1,113,250</td> <td align="right"> 1,298,792</td> <td align="right"> 1,484,333</td> <td align="right"> 1,855,417</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Capital Expenditure</td> <td> </td> <td align="right"> 109,563</td> <td align="right"> 109,563</td> <td align="right"> 254,630</td> <td align="right"> 145,618</td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Exploration Expense</td> <td> </td> <td align="right"> 155,610</td> <td align="right"> 155,610</td> <td align="right"> 336,179</td> <td align="right"> 309,304</td> <td align="right"> 309,304</td> <td align="right"> 309,304</td> <td align="right"> 309,304</td> <td align="right"> 309,304</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Total Cash Costs</td> <td> </td> <td align="right"> 8,996,935</td> <td align="right"> 7,836,818</td> <td align="right"> 7,278,954</td> <td align="right"> 10,871,919</td> <td align="right"> 7,950,791</td> <td align="right"> 9,476,429</td> <td align="right"> 10,737,659</td> <td align="right"> 13,267,696</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> Gold Produced</td> <td> </td> <td align="right"> 11,090</td> <td align="right"> 4,761</td> <td align="right"> 5,558</td> <td align="right"> 13,748</td> <td align="right"> 7,704</td> <td align="right"> 14,216</td> <td align="right"> 16,247</td> <td align="right"> 20,309</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> All In Cash Cost/oz-Produced</td> <td> </td> <td align="right"> $811</td> <td align="right"> $1,646</td> <td align="right"> $1,310</td> <td align="right"> $791</td> <td align="right"> $1,032</td> <td align="right"> $667</td> <td align="right"> $661</td> <td align="right"> $653</td> </tr> <tr height="20"> <td height="20" style="height:20px;"> All In Cash Cost/oz-Sold</td> <td> </td> <td align="right"> $914</td> <td align="right"> $1,730</td> <td align="right"> $1,006</td> <td align="right"> $880</td> <td align="right"> $1,032</td> <td align="right"> $667</td> <td align="right"> $661</td> <td align="right"> $653</td> </tr> </tbody> </table> <br />