re: Ann: 77% Increase in Production to 49,199... Loki, the final page (p.26) of the Management Discussion & Analysis, Dec 31st 2011 explains the path forward... 10mtpa scoping study is done, including the mining schedule and first pass economic analysis.
The separate optimisation study to potentially increase the crushing/grinding capacity within the existing footprint needed two more weeks and should therefore be completed now... potentially reducing the capex needs of the 10mtpa expansion.
Hopefully results of this optimisation work will be described in the quarterly. March's production at 7mtpa rate is very encouraging.
From my viewpoint, I'm holding until at least the end of 2013... by then the remaining debt will be repaid and the hedging gone. The $2m monthly exploration budget now underway should bear fruit with resource/reserve updates and maybe improvement upon grade... given last quarter's drill results that hopefully continue.
Rowingboat
Ann: 77% Increase in Production to 49,199oz For M, page-5
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