Ann: Company Insight - New MD Norregaard on Compa, page-12

re: Ann: Company Insight - New MD Norregaard ... stlamc

Gold recovery was around 70% in the previous 3 quarters. The target is around 86% over the life of the mine - see the 2009 BFS announcement (on the ASX list of announcements). That alone constrains the amount of gold produced. I believe they are working on this issue, but I have no idea when this will be fixed.

The average grade of the mine is 3.5 grams/tonne. They are mining the lower grade stuff at around 2 grams/tonne until they can clear over-burden and fix the pit (deal with possible water issues).

I doubt they will achieve average daily production of 3000 tonnes in the June quarter and operate every day, but I sure would be happy if they could. I am hoping they can come close to this target in the September quarter, perhaps by exceeding the rated 3000tpd capacity by 10-15% like BDR is doing.

loki