Ann: Trading Halt, page-83

With the higher AUD POG, their operating margins might still be similar to what they forecast in the FS, which talked about an AISC of around $1000, I think. I would be happy if they could achieve $1150-1200/ounce given the current and probably higher future AUD gold price.

For me the bigger issue at present is that their LOM plan/ore reserves does not support production at 200k ounces pa for an extended period, which also make me wonder it they could be a consistent low-medium cost producer. They need a lot more success with the drill, and for the operations to gell successfully.

loki