Ann: Extension of SPP CLosing Date, page-90

Troy's guidance is 30-32k ounces for the first calendar half of 2019. My estimate for 15500 ounces production was positive operational cashflow of $2.5m for the quarter. Average grade does not make much sense as there are still stockpiles enabling Troy to somewhat enhance the grade and then there is the issue of mill availability and planned maintenance etc.

Generally the March quarter sees less of the wet season than the June quarter, so production could be higher in the March quarter than in the June quarter, e.g. 16500 vs 14500 ounces or something like that. That would mean a huge difference in cashflow.