Ann: Media Release - Quarterly Activities Report , page-27

re: Ann: Media Release - Quarterly Activities... Can't say I was overly impressed with the report.

Production of 19470 ounces against a forecast of 25,000 ounces from the June qtrly.

Repeated forecasted production of 85-100,000 ounces for the current year - up until this report. Cumulative production to the end of September 44,965 ounces with forecast for the final quarter set at 20-22,000 ounces. At best total production for the year is therefore 67,000 ounces. This is a sizeable 21% below the lower estimate of the forecast range.

The only explaination I can find for this difference is that December is a disruptive month due to days lost for the festivities!??! - surely a more thorough explanation is required.