Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-4

Been a long time since this has happened for PNR.....



Whilst I would still like a lot more detail on many areas of the company (mine plan for the next 2-3 years, projects on what it will cost to upgrade the plant, and exploration programs in detail), I do think PNR are getting their house in order.

The quarterly reads well and is concise.

Star/Ok underground is steady and looks to aiming for just over 200ktpa, though clearly if the exploration that has just commenced does prove up further resources, PNR has stated it will look to expand the output of the operations.


Both the open pits are humming (well... compared to last year). As the pits get closer to finishing the strip ratios are going to get very low, which should provide them with some very low cost ounces as Scotia ramps up and they start mining the Princess/Slippers open pit at the end of the year (bloody wish they would provide more clarity on just what the pit holds and the strip ratio).

The plant is humming, though as above.... what sort of costs will there be to ramp it up to 1.5mtpa?

Would be interesting to know if PNR achieved the highest average spot price for sales.... $3536 is impressive.

As the market comes to realise PNR has changed... it will get the recognition. Amazing that they have still not sold Halls Creek, but I suppose they just don't need to rush now they are finally in a strong financial position.