Ann: Quarterly Activities Report, page-3

A solid quarter with good production (2,136) and AISC ($19,939).

Good to see the return of the bond ($6.5m) so all our one-off payments have now been banked, we now look forward to receiving cash from the strong production.

So we have $13.4m in the bank and $7.5m left of our ACT loan, I'm struggling a bit to understand how much cash is still to come our way from delayed payments and unsold inventory. Am I right in saying these items totalling $22.6m represent cash expected and not yet received, if so our bank balance will soon look very healthy..... anyway able to confirm.



I'm a little lost as to why production guidance for FY22 is 8,500 - 9,000 so basically a continuation of last quarter and yet AISC guidance stated as $21,000 - $25,000 (page 3 of quarterly). If production is expected to be the same as last quarter why would AISC be so much higher than the $20,000 seen last quarter. Is it possible they stated AISC but meant AIC which would better align to last months AIC of $23,425.

Strong quarter with messy cash flow.... will there be any buying interest on the back of this result?