Ann: Quarterly Activities Report , page-2

By my quick calcs...
They are looking to mine around 90,000 oz in 2009
At an average of A$1200 oz they will be generating approx A$108m. Costs are $750 oz leaving a margin of A$450 oz or cash flow of around A$35m in 2009. Only about 75m shares on issue
If you expect the gold price to increase, as i do, then it makes the figures even more attractive.
Draw your own conclusions - looks to be a tad undersold at the moment - there has been conjecture that a hedge fund has been liquidating their position.

I hold at an average of 37 cents : )