Ann: Quarterly Report December 2015, page-15

It is a reasonable report except for the 12 month delay in completing the service shaft (now upgraded to 10 levels from the former planned 8 levels). I did not read any details of what this new shaft will cost. I suppose there is a very good reason for the change of plans, but it is unfortunate timing given the uncertainties with the USD POG and their current AISC level.

Share price will be hostage to the USD POG, unless a miracle happens and they can get AISC lower while producing in the 120-130k pa.. ounce range.

Nice to see improvement in balance sheet position implied by the financial details provided (assuming no build up of accounts payables or debt).

Back to sleep for me.

loki (you guys/gals in 3 months time, perhaps)