Ann: Kat Gap Update, page-20

Tipster, it is one thing to be an 'explorer', but building and running a mine is a big step up.

The gold price is good. It is no secret though that we are experiencing very difficult cost pressures across the board. Take a look at the latest quarterly reports.

September quarter AISC (A$)
Ora Banda – $2194/oz

St Barbara – $2487/oz.

Gascoyne – $3135/oz

Northern Star – $1788/oz

Ramelius – $1930/oz

West Gold – $2106/oz

Wiluna Mines – went into Administration

How can CLZ expect to compete? Small (Inferred) resource and no plan (schedule, costs, revenue) is not a recipe for success. Happy for someone to convince me that CLZ can make money.