Ann: Quarterly activities report, page-9

Their estimates for production still look very low ball to me.
In March alone they produced 6239 ounces due to a higher grade ore!
For the June Quarter they predicted Between 17000 - 19000 ounces for the year, which meant they would only produce 6362 ounces at the top end of estimates for the June quarter.
They changed this to plus 21000 ounces for year with only 6 days to end of year.
They actually produced 11007 ounces for June Qtr which is 73% higher than their pre June 24 th update.
They are now saying that September quarter will between 11000 to 13000 ounces with 2016 year targets only 40000 ounces.
I hope that managements performance hurdles of renumeration is not set at these low ball figures as it was always recognized that this operation could produce at around 75000 ounces per annum.
Just my thoughts and I hope we don't get take over offer with these low ball estimates now that the 6 months ramp up is complete.