Ann: September 2023 Quarterly Activities Report, page-18

Happy with the results, higher AISC expected with the inflationary environment but more than offset with the very impressive aud gold price which looks destined to climb as we continue into this horrid economic and geopolitical nightmare scenario globally. Happy with the NST hedging situation which will continue to improve over the next few years. Management aren’t taking any risks, they know the majority of the market invests in this stock for safety, so having that tactic of low risk fits the bill. I have been more than screwed over by a couple of companies who failed to hedge appropriately and took the gamble, I.e - AIS failing to hedge at higher Cu prices. This mistake has come close to killing this particular company.
It is nice to see a plus 4% gain day, we don’t see too many of them, if we do it’s usually got a red next to it. Hopefully we can continue the momentum and hit some new highs before Christmas.