Dec QTR and 2019, page-5

You forgot the 3 months of stockpiles, the deferral of the Investec loan already and the higher spot POG plus the final hedge which is 3koz heavily in the black.

If they needed more cash they would have done another CR for $2.5M in Jan and not the SPP & processed some stockpiles and deferred Investec/TC.

Everytime I heard a bearish viewpoint, the TRY BOD came our and surprised everyone, even kojak.

My call is AISC at 950
FCF of U$6M
production as guided
drilling and building costs escalated
Tallman road and bridge works underway already.
Tallman ore to mill escalated
More stunning high grade drilling results