Ann: Quarterly Activities Report 31 March 2018, page-2

The Teal Stage 3 optimisation study was completed during the period and, while the project was cash positive, did not meet the Company’s A$500 per ounce cash margin hurdle rate. Further drilling is required to grow the scale of the project and will be completed as part of the current program in 2018..

Smart mgmt don't mine if the profit isn't fat is way I trust IRC mgmt >> IMHO the AUD GOLD price bull trend and drill bit will see Teal Stage 3 in production soon enough


11.5mill in cash & RWD shares nice one guys