Ann: Quarterly Operations Update, page-10

Kippytop1 is right in my view, these guys are not the best PR-wise, for eg the, MD needs to stay of the cream buns and go for a run. But apart from the semi-gloss, what is important is that gold production levels from smaller throughput plants, such as this one, are reliant on high grade low volumes to blend with the foundation feed to make grade and therefore quarterlies assuming that its a now shaken-out new plant with expected high availability. As PNR will be cross-cutting the 3rd underground mine next month, and stopping by September, with ample funds to do so, can't really see the downside here. This extra degree of operational flexibility will provide a basis for exceeding 100koz per year going forward. Once the real interest rate in the US start to forecast a fall in 3Q, >20 cents per share for this one if 4Q production forecast indicates a bump towards 25kOz. This is based on my experience as a production GM and corporate analyst.