Ann: Production Update December Quarter, page-35

Jay.
Ravenswood is not being developed
The biggest mistake JW has made
It was clearly stated that the CR was for
Developing Ravenswood...

Syama underground was to be funded from cash flow..to cost about what one would expect for an underground mine.
Instead costs have mounted up and the spend is continuing.
74k oz should show about $20 million profit for the quarter.
So well over $150 million spent in the last 2 quarters.

At last Esh is showing some thought process in acknowledging there is some risk in the spend on Syama.

It doesn't take much thought to much thought tor realise
If things had been done as stated in the CR
RSG would have 2 profitable mines operating and another fully funded
And being developed ....as well as zero
Debt....It is a shame what has happened here.

Now why has this been done...
That is what I can't work out.
I am very disgusted at what has happened.

Nothing to do with money a I have made plenty on RSG

Cheers