Ann: Operations Update and FY19 Guidance, page-187

Maybe. If BLK hit targets then they do seem like a good value play. If BLK did ever manage to get their annual production to 200 - 250 kozpa then you guys will be laughing. However, the nature of these small pits means that will be wild swings and fluctuations on a month by month basis of AISC, grade, strip ratio etc. BLK have been in the "sweet spot" in the last 5 months and have failed to capitalise. I can't see things getting any better

Next quarter could be rough!
"Production guidance for FY19 is 77k‐89koz @ an AISC of A$1,250‐$1,450/oz. FY19 AISC is expected to be higher than Life of Mine AISC, particularly in the first half, due to the investment required to strip new mining areas in the M1 and M2 pits to maintain a high mill throughput"