Ann: Change in substantial holding, page-9

I think the SP might continue puddling around the $1 mark for a while @Hiddenvalue.

• Current hedge of $2647/oz to be replaced with a much lower hedge after 31/07/21.
• Jun'21 qtr production between 12k - 15k oz.
• Oct'21 qtr production similar to Jun'21 qtr.
• Expectations for Stage (1) to be commissioned Oct'21.
• Dec'21 qtr production similar to Oct'21 qtr (or possibly some improvement if Stage 1 is delivering the goods).
• Expected completion of Stage (2) Expansion DFS by end of CY2021.
• Targeting full production of 120kozpa (30koz / qtr) by end of FY2022. (ref: Mar'21 quarterly pg.1).c

Perhaps the SP will re-rate when Stage (1) is producing the quantities of gold that the Market is expecting to see.