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quarterly, page-2

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    The only changes to your figures I would make are:
    1)Add $1mil to your spend figure for admin costs so that total spend is $14.8mil.
    2)Decrease margin to $A600/oz from your $A700/oz due to lower production so higher costs per oz.
    3)I'd suggest production of 13,000 ozs due to cessation of open pit mining at Jokisivu in August.
    4)Talk of 70,000 ozs production for the year is overly optimistic IMO and I'm treating it as spin.
    5)Another possible expense might be a further loan to Weld Range Metals to cover its costs.
 
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