Relatively poor quarter considering the average gold sale price is significantly down on spot and difficulty to mine Geko ore. We locked our sale price to last years gold price thankfully oil is yet to spike up but expect it to $100 / US per barrel will be likely and with a weakening dollar as in input cost it will have an effect).
Post lifting of hedge (getting about $500 more per ounce) and moving on to easier to mine ore should see the next quarterly one that is a vast improvement in most metrics - we will have a pesky cash build problem so expect dividends or acquisitions (and a stagnant SP lol .. or cry).
In summary .. today, really average with a promise of improvement in the future!
Ann: Jaurdi Gold Project March Quarter Production Update, page-3
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