alterior's analysis/forecast, page-67

Fitnfam,

Yes gold recovery and reagent expenditure could be improved. In fact, Oxiana achieved >90% recovery at the end of their time at Wiluna.

Wiluna has improved it's recovery from where it was 2 years ago. The senior metallurgist who spent all his work time trading shares, can take no credit for this whatsoever. Now that I think of it, he did try to recover gravity gold from the milling circuit and he failed too.

Unfortunately, thanks to the likes of that senior met, MA has no confidence in those people employed to improve plant recovery. As a result, the technical staff don't have the resources or opportunity to make some simple and very effective improvements, nor monitor and make constant adjustments to operating variables. In fact, those technical staff find themselves covering for managers who haven't been replaced and debating which tank can be "cleaned" next.

Constantly fill the mill with dirt, have the power to run all the mills and bring on a higher gold price then AXM will fly.