the delay thus far and why things may change, page-12

BH

As auag has said ..

what you need to understand is there's been a revised plan at Warrior... which targets a 100,000 oz/annum production now by focussing on the Western Decline - a big increase on the previous 40,000 oz/annum plan.

So the end result is a bigger and better Warrior, but a delay in the earlier forecast production ramp up targets, which were based on the Eastern Decline.

I've gone with the flow ..by accepting that trade off - a production ramp up delay for a 250% increase in production
at Warrior (40,000 oz/annum to 100,000 oz/annum).

Also I'm not convinced with CTO the company yet as a producer - I am however in love with the project itself - which has got bigger and better with the revised Warrior plan.

To be convinced with CTO the producer, I still want to see CTO achieve its production targets .. especially the December 09 quarterly target of 15,000 oz.