Ann: FML March Quarterly Report and 5B , page-21

Gents,
Just a quick squiz and the 10 salient points

1/Tindals underground Geotechnical issues---I read ground instability, requiring to be made safe-Maybe getting a bit swiss cheese like near the accesses

2/Everything back to Normal there for JUNE QTR-Great

3/However, no more immediate development driving in existing workings for the time being as they already have 43koz ahead of them for the next 6-8 months

4/that saved exploration money will head towards 4 other structures within 100-200 mtrs of the existing decline.(I read expansion of underground operations and resource faces ahead from parallel structures? Hopefully as productive as the first 4 structures producing 1.6MT at 4g/ton to date)

5/Empress pit stage one complete in June QTR (read all development written off) into higher grade ore and cutback being evaluated (expansion)

6/Dreadnought pit extended on the FLY for by better ore delineation nearby - 74% more ore produced.

7/Big Blow has turned out to be FREE DIG-read cheap handled ore

8/Low grade stockpile of 200kt @ .9 accumulated- handy for when the rains come/or heap leaching

9/overall grade down 12% increasing costs around 10%-must mean overall cost reductions/savings of around 2%

10/OH the MOUNT-upping driving ore yield by 1/3rd.Stick that in your council trucking restrictions
I take it that also means a reduction in mining costs there too.

11/Laverton is doing just fine where FML want it to be

DYOR+DYODD didn't expect much different,except for the u/g geotech costs to production oz and costs for last qtr.Sh-t happens.This is temporary