Ann: High Grade Gold, page-11

There's a distinct possibility that the June quarterly will be issued by KAU sometime this week. The company issued the March quarterly on April 11, well ahead of the end of month deadline. Let's hope the same thing happens for the June quarterly.

here's a snapshot of key details in the March quarterly.



these were outstanding metrics by any measure.

MD Jonathan Downes described them at the time as defining and a major turning point for the company.

With a gross profit margin well in excess of 100% and a juicy head grade of 14 gpt, it certainly was.

production was still ramping up in the March quarter after all the mine development work in 2021.

so its reasonable to assume that in the June quarter production will continue to rise likely into the 3k-4k ounces of gold range.

if output rises, this should put downward pressure on AISC, widening already fat margins.

Shareholders will have noted MD Downes last week disclosed a purchase of 40k shares valued at $6600 to add to his already considerable indirect holding interest of around 3.5 million shares, and 4 million variously dated options.

many would take this purchase of a further modest parcel as a good sign coming ahead of the quarterly.

of the options 2 million are exercisable at 30c before Jan. 31 next, and another 2 million exercisable at 40c a year later.

the future remains uncertain as ever, but by my reckoning both tranches will be well in the money by their due dates, representing wins for Downes, the company and shareholders.