Ann: Gwalia Mass Extraction Feasibility Study, Guidance & webcast, page-59

From the OZ - FWIW

All downhill from here for St Barbara: RBC
Gold miner St Barbara this morning downgraded guidance amid ventilation issues at its Gwalia expansion project in WA, what RBC analyst Paul Hissey says is the start of more backward momentum for the company.
Shares dropped 32 per cent to a more-than one-year low of $3.15.
RBC says while the trucking option seems the logical option, ventilation remains the main constraint with operating costs remaining “subject to continued optimisation”.
“Our negative view is predicated on the notion that SBM is operating at its peak, and production and costs are likely to move in an unfavourable direction over the coming years. The moves in guidance at Gwalia seem to illustrate some of this thesis coming to fruition,” he says.
“The market reaction is (in our view) proof that it’s not what is happening now that matters (SBM is running well, and forecast cash projections are very healthy), but rather what will happen next.”
SBM last down 31pc to $3.21.