Quarterly comments, page-90

This is the images that got me curious to damage to the open pit; the image below is from ASX announcement dated 8-10-2014 page 3; if you look in the distance above the exhaust pipe of excavator there is apparent slip damage to the Northern haul road in the NE section of the pit; the pit floor is also clearly under water in Oct 2014.

The image below the current is from Dr Spock posted on the 23/7/2015; notice the damage to the NE corner of the pit; the Northern haul is gone in large sections. There is no mention of damage to the Northern haul road that I can ascertain in ASX announcements to date; there is mention of silt in the pit which requires considerable effort to clean up (See ASX 8/10/2014 page 3). So when is the starting point of the current situation? One may look to the images below and make there own decision.

Notice also the high costs of waste removal as posted many times; $25 per BCM March 2015, $15 per BCM June 2015; my opinion only....My thoughts are the loss of the Northern haul road was significant and should have been reported to the market in October 2014; my opinion only. Why; because the loss of the Northern haul road may have an adverse affect on the haulage costs due to possible bottleneck situation; also the above material haulage figures suggest a considerable increase when compared to 2013 levels of approx $8 per BCM. The above is my opinion only not market advice.