Hmmm... Positives - 28% increase in production Negatives - 31%...

Hmmm...

Positives - 28% increase in production

Negatives - 31% decrease in margin (based on US$1200 gold)

Net results:

Since taking the helm Geoff Davis has hit his production and cost targets so I think the market will give some weight to this report.

That said, I think even more weight will be given to it if the Q4 production results are solid (ie 28k+ oz and an AISC less than $980)...

I'm not sure if there is enough in this report to get the market excited. Might need to wait for the Q4 production report or the annual report to bring in new buyers.

That said, I think a report like this should help give the market enough confidence to start letting the earnings multiple again begin to drift up slowly over time.