SBM Chart, page-18

Outlook • Guidance for FY19 is summarised as follows: o Forecast Gwalia gold production between 245,000 and 260,000 ounces at an AISC of between A$920 and A$980 per ounce, with sustaining capex of between A$50 and A$55 million, plus growth capex of between A$60 to A$64 million. Gwalia sustaining capex includes capital to prepare the mine for GMX, establishing dual declines and increasing the number of mining fronts. This capex is reflected in the AISC guidance. o Forecast Simberi gold production between 105,000 and 115,000 ounces at an AISC of between A$1,275 and A$1,375 per ounce, with sustaining capex of between A$8 and A$10 million. o Forecast exploration expenditure between A$21 and A$27 million, consisting of:  A$3 to A$4 million at Greater Gwalia.  A$6 to A$8 million in the Leonora region  A$4 to A$5 million elsewhere in Australia, mainly at Pinjin in WA and  A$8 to A$10 million on the Tabar Island group (inc. Simberi) in PNG.  The above forecast does not include expenditure related to the PNG option and farm-in agreement with Newcrest.

Does not sound negative to me. WTF!