It is too early to say it is well done. I will wait to see the next quarterly end of July:
The output in the first quarterly was a bit better as expected by Hannes Huster of goldreport.de.
Profit margin however was with 206 AUD over AISC far lower as Hannes rough 600 AUD per ounce expectation. And obviously they had to spent in more equipment underground which will need payback time.
Near Red October drilling did not return any valuable results so far, they obviously are trying to pull more out of locations closely to the ongoing production, for example Smurfette.
The first really pleasant month is April with 7490 tos at 4,16 g/to Au, apr. 850 oz. SHOULD THEY MANAGE TO ACHIEVE THIS MAI AND JUNI AGAIN WITH SHOWING FEASIBILITY OF THE NEW MULI-STOP CONCEPT, then we can be happy from end of July after receipt of new data.
The other drilling ventures like Devon and Hill50 continue to look very promising for me, but here we have yet to see, how fast they can start production. If they comence timeconsuming further studies first as before, So that could be rather late. Regarding Fortescue Lake aerea I have myself no opinion, as I have dificulties to understand the lake environment. Looks tricky for me. I am more confident with Devon and Hill50.
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