BLK, page-37

Hi @Drugo, it looks like management are expecting 19k - 23k oz for Sep'19 quarter (according to the Mar'19 quarterly) but as you've already mentioned 'Who trusts Milan's forecast. He has got it wrong for a year'. Anyhow, thought I'd post how things are looking for FY19 actual production (up to the end of the Mar'19 qtr) & also the guesstimated production for the Jun'19 qtr (based on Milan's forecast if you can trust it)...

• 53,361 oz - (FY19 production up to end of Mar'19 qtr)
• $87,664,580 - (FY19 production cost up to end of Mar'19 qtr)
• $1643 /oz - (FY19 AISC up to end of Mar'19 qtr)

-----------------------------------------------------------------------------------------------------------------------------------------

• 66k-68k oz @ AISC ~$1700 /oz - (**current FY19 production guidance) **subject to change anytime

-----------------------------------------------------------------------------------------------------------------------------------------

• 12,640 oz - 14,640 oz - (Jun'19 qtr production range based on Milan's FY19 guidance)
• 14,640 oz @ AISC $1900 /oz - (High end of production for Jun'19 qtr based on Milan's FY19 guidance)
• 12,640 oz @ AISC $1950 /oz - (Low end of production for Jun'19 qtr based on Milan's FY19 guidance)

Hopefully they manage at least 14k oz for the Jun'19 qtr....it could easily be lower considering the operational focus is on completing pre-strip on a number of pits. Excluding production miracles, liquidity might be a bit skinny going into the Sep'19 quarter.