Ann: Drilling Extends Matilda at Depth-BLK.AX, page-19

The gold price can bounce around with the volatility that it is experiencing at present and while a stronger gold price is good for overall positive sentiment in gold stocks what really matters for BLK is the gold price come Nov/ Dec as that is when we are likely to have produced the first 20k oz which are hedged at $1700 and then be at the mercy of the spot price (unless management hedge further). Bring on first pour.