Ann: 160801 First Gold Pour-OGX.AX, page-72

jimone

I believe Mark mentioned that they will rarely give details of the timing of gold pours and time between productions runs for security reasons. Presumably the ann re initial gold pour was an exception? They have, almost certainly, been pouring more gold since the initial pour but just not talking publicly about it.

I've often wondered about the security aspect of pouring gold bars as you would think gold miners would be relatively soft targets for serious criminal groups. I imagine they generally plan to transport the gold off site immediately after pouring? This, and continual variability and secrecy regarding timing of gold pours, would presumably help their cause.

This is somewhat of a loophole for management re their obligation to release news promptly and continually (but it is a reasonable one). I would say they plan to run numerous cycles of production with parcels of ore from different sections of the mine in order to get an idea of grades from different parts of the mine. They are totally aware that all eyes are looking for information on grades. You would hope they plan to get a good feel for the average grade and variability across parts of the mine before publishing any details publicly. It would make sense to do this with a reasonable amount of information from different production runs rather than post details of every single HG pour as they're done.

The unfortunate side of this for most shareholders is that price-sensitive information is known by numerous people at the mine for some time before it is publicly available.

Frustrating? You bet. Understandable? Ditto ...