Brigus Gold Corp. (BRD)

[gharma]

I would guess you are correct about already trimming back on cap ex, and I bet with the dip now toward 1200 exploration also. I do not that they indicated making headway on cost reduction in recent NR update as an anticipatory step, and I imagine that effort is also seeing deepening cuts.
I differ in the numbers presented in analysis. Using your suggested 1300, which is appearing unrealistic for the near quarter, the gross on 25,000 would be 30.9 M, not 32 M as 2000 of the 25,000 is sold at 500/oz for the gold stream. If "cash costs" on that production is 21 M that leaves 9.9 M from which one needs to subtract other costs (non-production costs, admin, debt service, tax, etc) in order to get to free cash flow. My numbers work leads me to believe that below 1400 gold there is no net free cash flow for use on the cap ex or exploration.