Ann: Press Release - March Quarter Report , page-5

Hi speculator,

Yep aware of the tax situation. I think that, and the overhang on Mineral Deposit stake, has been particularly negative for their SP. So personally believe its mostly priced in.

Dividends havent been ruled out according to the webcast, though they were referred to as unlikely as was a share buyback. Couldn't imagine them paying a div in this environment anyway. KCN did, big mistake given their debt situation.

Looks like ongoing (all in) cost of production (ie $535 + $170 pre stripping + $268 D&A) comes to around $970 per oz (not incl tax which is not really a revenue earning cost). So C3 costs, if we assumed around $30 indirect costs would be touching the $1K level.

Though given guidance for remainder of Cy13 is 650-700, that would mean (taking into account the $535 achieved for march qtr) that the cash cost for remaining 3 qtrs is probably around 688 - 755.

So if we add the $170 and $268 to that, cash cost for the rest of CY could be in the $1,100-$1,200k range which doesnt look as healthy but still pretty good for their situation. I've emailed the company to confirm my understanding of this so hopefully get a reply.

Cdchi1