re: Ann: 2011 AGM - Chairmans Address and MD ... The company update had not revised production forecasts!
They made it out that 16k oz for the september quarter was due to problems at the mill and lower processing grades, they also advised that the december quarter would be lower than normal. So assuming 32koz for the first half, then 50koz being the norm for the second half. Equates to 82koz.
They're pretty much now saying, that the lower grades are the norm and to be expected.
They've missed their production targets :) Could they now please return those bonuses! You surely can't expect to be rewarded for overproduction then not expect a penalty for underproduction?
Ann: 2011 AGM - Chairmans Address and MD Presenta, page-6
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