Ann: Announces Copler Sulfide Project Approval-ASR.TO, page-9

Hi Roka

I too sold about 2/3rds of my stake in AQG mid May after buying back in in late January - tidy little profit.

Must say, recent reports on the sulphide rejig have me a little concerned. Whilst grade is predicted to be higher and overall opex down, not sure why this simpler process setup leads to an additional $120M in capex? Additionally they now won't produce sulphide ore till 2018. In the meantime they've rerated the oxide production lower.

Still a believer as I've done very well investing in these guys since late 2009, but I'm going to sit on the sidelines for now!