HGO Position, page-55

Whilst the valuation indicated that there could be that much cash generated by the end of this year. We are going to fall way short of that. There seems to be an unhealthy over run in mining cost that is probably chewing up more than the higher copper price is delivering and we are producing way less copper this year than was forecast in the valuation. I think that is mainly due to the plant shutdown caused by the bearing failure. I'm hopeing it's not a grade problem. 

The only disclosure about grade to resource we have had is a 2% gain in the last quarter of 2017