Ann: Response to ASX Query - Appendix 5B , page-4

The Company response to the ASX query doesn't reveal how the gross income is calculated nor ounces produced and sale prices utilised.

Assuming the revenue is based on selling into the hedge ($1,358?) for the remainder of the year, which I think is likely, then you're looking at roughly 2,700oz Au for November and 4,600oz Au for December. This just a simple view and doesn't take silver ratio/sales into account (take away some Au for that). I'll let someone more mathematical to work that one out!

The 1Q13/2Q13 budget of $25.5m/$26m fits their production targets at hedge.

Targetted weekly production is approximately 1,300oz Au and 12,100oz Ag at steady state

1,300oz x 4 weeks x 3 months * $1,358 = $21,184,800 (15,600oz Au)

12,100oz x 4 weeks x 3 months * $32 = $4,646,400 (145,200oz Ag)