mines and money conference presentation, page-15

"Dangar why do you suggest that anything less than 250,000 ounces of silver production in the March quarter "will be a disappointment" when only 109,000 ounces of silver was produced in the December quarter?"

Because of this extract from the December quarter report, which was released 31 Jan:

The stacked ounces from the December Quarter – coupled
with the increasing crushing rates currently being achieved
and the introduction of Leach Pad 3 – are expected to
significantly boost production levels during current Quarter.
Heap leach operations typically take 3-5 months to ramp up
to full commercial production. Notwithstanding the short-term
mechanical issues with the crushing circuit, the overall
operation is performing within expectations and Alcyone is
confident of achieving full commercial production rates
during Q1 of 2012 based on design parameters.
The Twin Hills operations delivered a healthy Gross Margin
for the December Quarter and the Company expects to
generate an increasing cash surplus as silver production
continues to ramp up towards the targeted annualised rate.


Now I also note the Feb 22 ann, suggesting pad 3 won't start production until late March. If that means that no Ag is being smelted that would be a disaster. I expect production has continued via the avenues it was already producing on. If production is less than last quarter then I will be selling out.