That is a pretty awesome production figure given what they had...

That is a pretty awesome production figure given what they had forecast at the beginning of the year. A key reason for the high production level is that ore grade is up at both Gwalia and Simberi.

We will need to see the quarterly report to find out where the operating surplus went besides the reported $17m increase in cash balance, a $31m tax payment and the $10m on Peel shares - I would like to see the figures for non-sustaining capex and exploration.

The broker analysts should like today's announcement, I would think. Simberi is producing at the rate of 146k ounces pa, way above past levels and must be delivering some useful cashflow while the oxide ore lasts.

I am expecting an increase in their forecast production level for 2017-18 in the quarterly report, but they will as usual make only a conservative additional estimate.

loki