Ann: Record Quarter of Gold Production for Blackham, page-193

The stockpile amounts dropping was semi-expected due to the strip ratio increasing to over 5 for this month, however you're correct, they were a bit optimistic in their previous monthly announcement.

Here is the 'to date' strip ratio and AISC for BLK on a graph, with data reconciled below. I've also put the June quarter 'expected' in and it seems to line up with historical for this company. The variance from the line is likely caused by recovery which was the major disappointment for me in march but didnt expect the market to react like that.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9
0		Jun-17	Sep-17	Dec-17	Jan	Feb	March	Total Mar 18	Jun-18
1	oz	15720	15619	14922	6498.2	6713.3	7419.2	20631	21000
2	Grade	1.281	1.4	1.135	1.36	1.542	1.597	1.504	1.6
3	AISC	1758	2236	1882	1158	912	1197	1092	1150
4	Milled	416.1	379.4	443	163	150	165	477	450
5	Rec	91.7%	91.5%	92.3%	91.2%	90.6%	87.8%	89.4%	92
6	SR	11.7	26.8	10.2	3.6	1.5	5.2	2.5	4.5