From Credit Suisse come Perseus:
■ We forecast an FY16 net loss of $20mn. Quarterly reporting should lead our operating earnings to be close to those reported. Risks to our forecasts include non-recurring adjustments associated with the Amara acquisition and capital raising (we forecast $7mn per cash cost guidance) and any tax implications. Absent of tax guidance we apply a 14% effective tax rate to our 2H earnings consistent with 1H. Historical tax rates have been variable.
■ Cash pre-advised $151mn plus $15mn bullion. No debt but Sissingue US$60mn bank debt negotiations expected to be completed imminently. No div expected with cash conserved to fund Sissingue and Yaoure drilling.