It should really be down to Billis to make it clear, but with...

It should really be down to Billis to make it clear, but with mine closures leading to significant production declines on top of the large grade reductions it shouldn't be a surprise. It would be nice to see a AISC for the operations. At the higher current gold prices you'd hope they are now making money but impossible to tell. I was surprised at the low projected production forecast from EVN when they took over the assets from NST.

On the basis that they do use a FIFO inventory costing model, costs or gold sold will continue to increase. If RND had less gold and had to sell more recently mined gold, the overall result would have been a loss. The P&L is really completely misleading.