Resolute to sell Ravenswood, page-51

I've just spoken with JW (it surprises me that more people don't as I've found both he and Jeremy generous with their time and always happy to field questions, especially from shareholders).

Surprisingly the article in question stemmed from an open forum QnA session in the company's offices on the 17th December. The article clearly gives the impression JW was interviewed yesterday (or quite recently)....he wasn't. Certainly no decision to divest Ravenswood has been made and the company is in no rush to. What was reported sounds to me (after speaking with John) the outcome of a free ranging discussion where things were put to him.

With regard to Syama sulphide production for the quarter: the number reported is in line with the company's expectations. It's not higher as some here (myself included) expected due to the feed being an ever changing mix of stockpile and underground ore (improved recoveries also won't be linear as the mix improves). In support of this I note that the September quarter in fact says "once the circuit is exclusively fed from steady state underground ore" the 85% plus recoveries will be achieved.

On these and other matters (including the rock fracture mechanics they are seeing) JW said the company was exactly where it expected to be.

(and in addition: GIC was added to for the quarter and the company is owed a $40M VAT return from the Malian govt....which are always slow to materialise)