Ann: QUARTERLY ACTIVITIES REPORT - MARCH 2021, page-103

If they are producing closer to 6k tonnes and selling hedged 2.5kt as quickly as possible (which tons are which are arbitrary really), we should be essentially selling unhedged from about..... next week.... and getting full quid on margin. Gold looks like it may creep back up to 2.5kAUD by end of qtr, so back to the hedged level and gm of 1k per ounce.

agree with sentiment that we have to earn markets trust again, and will take some months. But for those longs who look carefully on the path trodden over last years, there is so much upside. Budgerygah has the grades to reap a huge rewards, just the exact timing of when they can exploit them.

I'm also buoyed by the added leverage of soon extinguishing ALL high interest debt (circa 10 to 20 pct from memory??) when cash reserves allow and take that off P&L as well... we won't get that sort of deposit interest at any bank ))