My back of napkin maths say on average over last year henty cost about $14.8 mm quarterly to operate...last quarter was bit more at $15.7mm. Loss was about $2mm for quarter on 4909 oz au produced. This is a narrow loss that can be made up quick if we can figure out why head grade at mill is lower than resource grade so imo best option for company is to keep henty operating for now since if henty put on care and maintenance mine is guaranteed loss maker every quarter and will cost even more to restart...I'm thinking the quarterly care and maintenance cost for henty be likely greater than operating losses printed by operation currently so keeping mine online in best interest of shareholders...furthermore company need at least 2 operating gold mines for derisking operation and upgrade. Also with outstanding local litigation about the death of a local hard rock miner underground, company in stronger position to get good settlement from local authorities if henty is operating and paying wages and taxes into local community.
Ann: Quarterly activities report, page-14
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