Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-38

Nothing new for the December quarter, we knew it was a tough one based on the cash balance at the end of the quarter. High costs as a result of low number of ounces.

AISC for the next 2 quarters are higher than expected. So financially it's going to be very tight for this quarter.

Production being weighted to Q4 makes it that there's an almost immediate need for additional funds, most likely via a capital raise. This is the case unless debt repayments this quarter can be deferred to the future, or some other arrangements.

Looking beyond that we should be producing close to 100k ounces per year once Bulletin is brought into play, assuming nothing goes wrong. AISC guidance will be interesting. The higher the ounces produced the less impact the hedge will have, so have to do everything we can to bring in higher numbers. We should have the next 2 year guidance released very soon.