Brigus Gold Corp. (BRD)

[gharma]

Pretty good even with pessimistic projection assumptions

If production stays level, 26,316 oz per Q
after the stream that is 24,210 oz per Q unhedged.
Using conservative $1.5 k / oz Au and stated ballpark $750 / oz cost of production (not all in cost however), that is a 750 - 500 = $250 / per loss on the stream, or $526.5 k requiring 702 oz Au to cover that cost

So net 23,508 oz production unhedged at $750/oz production cost. That is still 17.6 million quarterly revenue net of production cost at pessimistic $1,500/oz realized in sales. Looks like it covers taxes, other costs, debt service, etc. with room for exploration, debt buy-down, Grey Fox advancement, etc. Oh, that also assumes all production fron the area subject to the stream, which picture is looking to change significantly down the road once Grey Fox starts producing.