why?, page-16

My reading was that production costs were slightly higher than last quarter, but gold price was obviously higher as well (which should continue into the current quarter). It makes sense for the rate of production to slow as we near the end of the current mine life.

The good news from my view point is that they have extended mining of the Hanaford pit to November via the additional 7,400 ounces from the northern cutback of the pit. Add 12,500 ounces from Vertigo and then the potential extensions via White Dame North and East, and we are looking good to keep the cash cow rolling.