agm

I attended the AGM in Perth yesterday.
Approximately 25 investors attended.
Perhaps the following from my recollection of comments from the board and senior geologist might assist.
1. Presently they are still fine tuning the plant. The throughput has remained fairly constant recently and the increased gold production will come from higher grades from underground not increased throughput. The new underground areas at Wiluna should start supplimenting the Calais feed and reduce the lower grade open cut ore presently being processed very soon. A specific timeframe was not given but expected to be on track to the new 140,000 ounces per annum by April.
2. Five large shareholders own just under 50% of the shares. This is comforting that they seem to have confidence in this company.
3. Several new areas have been identified for exploration in the new year and it is hoped some free gold not requiring Biox treatment will be discovered and will improve the number of ounces produced.
4. It is expected the cash cost of production should reduce to about A$700 per ounce once the 140,000 ounces per annum is achieved.
5. The company has only a small amount of hedged product to clear at about $1150 per ounce.

I left the meeting feeling hopeful the horrors of the past 6 months or so are behind Apex and the future is reasonably promising.

Only continued strength of the gold price and successful achievement of the companies objectives will see significant improvement in the share value.

The above is my personal view only and any investor or potential investor should do their own research before making a financial commitment.