AMI Chart, page-76

A substantial amount of decrease in profit when you look at the breakdown was due to the hedging but also because they underpaid tax which needed to be resolved. So the tax expense should really be a one-off which means the charges should be lower this qtr.

I expect we’ll get another hedging charge this qtr but it’ll be less than previous qtr (I cant recall the statement that led me to think that) but that’s always going to be a risk with hedging strategies.

Gold and base grades; Au oz production and copper con production will be the big stories this qtr IMO (obviously). If they’re stable or comparable to last qtr, then the effects of lower AUD and higher Au and base prices will produce an awesome outcome: super low cost, super high margins and incrementally much higher EBITDA. If we have improved production from the previous qtr, it’ll be crazy good but I suspect our Group prod will be slightly lower due to the growth programmes, which may lower aisc but if that does happen, prices recieved should offset the decline.

On iPad so I know this reads poorly.