agm

Nothing too exciting and disappointed David 25 wasn't there to give a few pointers.
Wattle Dam :- A few delays in getting the ramp to the base of section D accounts for recent low grades through Mill, however stoping ore from Section D now being mined and results in first quarter 2012 will be much better,
DRILLING below current base not shown good results so far but optimism they will.
MT magnet :- All according to plan, first gold early January, if all goes well and gold price keeps up , Mill will go to 2.4 million tons p.a. during the year . Worst case scenario 1.7 million tons (Approx. 150,000 tons per month) from January at 1.5 g/ton =225,000 g/month (Approx. 7,000 ounces) at $1,700 per ounce another A$11.9 million per month to add to Wattle Dam's A$ 10 million per month if production is only about 70,000 ounces for the year. These are VERY GOOD figures.
For those who can handle a bit of cautious optimism just do those figures again BUT ASSUME 2 grms/ton from Mt Magnet and the Mill putting through 2.4 million tons p/a. Then assume Wattle Dam will actually produce another 100,000 ounces for the year not 70,000. THEN!! if you are greedy imagine the gold price goes up just a little bit, ANY INCREASE is all profit. I personally thanked management today for wrecking the share price, so that really greedy people have yet another opportunity to grab some more cheap shares