Ann: Quarterly Activity Report and Appendix 5B for 30 June 2024, page-13

Hi Veritas.

Good to see you still holding.

Very good news on the production volume, feed grade and recovery fronts as production ramps up.

I was pleasantly surprised with the mining cost coming in at $36/tonne given the EA forecast of $47/tonne. UG mining expertise was the big thing missing from the skills set as we ventured into the unfamiliar underground. Lachlan obviously assembled a very talented and competent group of mining professionals to achieve such a great result. I guess having a mine in the Adelaide Hills is a massive plus when your hiring and hoping to attract the cream of the crop.

Glad Bob didn't uncover any dream shattering things that were responsible for what appeared to be the sudden departure of Lachlan.


It's looking pretty promising and we can have a much higher level of confidence about costs going forward.

For those interested in numbers I've upgraded my spread sheets to reflect the costs being incurred.





Things should only get better from here as the ramp up continues.