new two year low $2.12 today, page-10

In relation to previous post on reserves, re-reading the current quarterly it looks like they are saying that the reserves are expected to be increased by the drilling, that is that they will be greater than 400,00 oz.

The exact words are:

It has become evident that the character of the Challenger ore body is changing with a reduction in the
gold endowment of the M1 shoot and at depth an increase in the gold endowment of the M2 shoot.
Preliminary indications suggest the total revised resources will be in the order of 800,000 ounces
including a reserve position of around 400,000 ounces. However, there is the potential to increase
reserves with the planned diamond drilling of underground resources scheduled to commence in August.

So the actual loss of reserves appears to be only estimated 148,000 oz and we may be in for a pleasant surprise if most of this is made up by extension of mine plans.