Ann: Quarterly Activities & Cashflow Report - 31 December 2014, page-3

The Dec Qtr seemed to be problematic and it would have been useful
if the CEO had given more mining detail and less Geological blurb.

What we have now is:

Dec half year production: 12,055 ozs AU + 38,077 ozs AG (12,800 AU equivalent.

Revised Forecast 30K to 35K ozs AU for FY 2015
Which leaves 18K to 23K ozs AU for remaining 6 months
or an average of 10,250 ozs AU/Qtr.

With forward costs for this Q3 being $7.9 mil then the extra money in thee till by
31st Mar should be about an extra $5 mil.

Given that new CEOs tend to get all the bad news out in the first year, then it should be
improving news from here forward.
Moorookamick