Ann: Quarterly Activities and Cash Flow at 31 March 2018, page-173

On the quarterly it is very disappointing that no production forecast was given for the June quarter. Mel had almost a months known production from the mine and would have known which stopes were to be mined for May and June. That should have ensured a reasonably accurate production range for the quarter. What it tells you is that the June quarter will probably be disappointing.

Am keen on this stock and the 2019 FY should be VG. However, we may see some share price weakness over the next 4 to 6 weeks. Imagine a trading company having insight into your production numbers on a continuous basis.

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It may be a pleasant surprise or it may not be. The point is that Mel would have a very good idea what the concentrate production numbers would be for the quarter. He could easily give the shareholders a range and if it was outside the range at the end of the quarter, give a short explanation as to why.

The problem is that this is a one mine operation and the shareholders will be the last people to know what the production figures are. As an example of who will know the rough production numbers i would include , all mine workers and their families, their mates down the pub, the transport people, the storage people, Trafigura etc. etc. If one was a serious trader of this stock it would be relatively easy to get the ongoing situation as regards production and trade accordingly. As shareholders we get to know the production numbers at the end of July.

In my opinion that is a very poor outcome.

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I stand and applaud you sir.

you saw this coming from a mile away.

you absolutely nailed it to the Tee, back in May.