Ann: Integration Update , page-6

Without going through my past notes, I believe IGR had already flagged this production amount at the meeting in Perth in December. Part of the problem, I believe, was a delay in getting to the higher grade ore, (over 4 g/t), at Maxwells open pit. This was also, I believe, a contributing factor to the rush for merger. If they achieve anything close to 4 g/t at Maxwells, production from IGR component should rise to 22.5 - 25 thousand oz per quarter.