Ann: Update on Financing and Production, page-76

Spec,
You, and I am sure, most shareholders are unaware that production has dropped off by about 22-25% because the announcement does not tell us directly that this is the case. It is only if you do the figures that you will discover this important news which I see as being concealed by the manner in which the announcement has been made.
A quick glance at the bar chart provided in the announcement and you will assume we are headed north, all is rosey. But if you anylise the chart the last bar, by coincidence, pretty much represents the production rate we were at a week or so back. Our production of gold equivalent at 54% recovery was about 1,100 oz per week. If you now look at the second last column and stretch it up a mm or two to represent 850 oz that shows you where or production rate will be for the next 6 months. You will see we have gone backwards considerably and I don’t believe this announcement has conveyed that message to very many people – quite the opposite in fact !