Do you think we'll be mining Peak by the end of the quarter? So...

Do you think we'll be mining Peak by the end of the quarter? So far every prediction has ended in another prediction. Yes I agree with James99, the presentation was lame and the market has responded accordingly. Anyone can see through the so-called 'sweating" rhetoric cos our milling at Hera and Peak was down, so how is that helpful? If Dargues continues as at present and no new ore is found, we lose an awful lot of money unless in the next 4 years gold goes ballistic. If they are anticipating that, you'd have to wonder why we aren't selling into the hedging. Management now raises too many questions for me. For instance now that we are seriously diluted after the Dargues purchase with a much larger number of issued shares, will they continue the dividend that the Board basically set as policy. The increase in shares now makes even a 1c dividend a cost of $12 million. With a net $26 million and the possibility of either building a new mill at Hera or spending a huge amount on remodeling the current mill we are definitely going to need lots of cash. So where will that cash come from? The Hera mill has been one reason I've been eager to see Peak Deeps generating funds sooner rather than later. I'm waiting still. Another capital raising? I hope not, the number of shares on issue blew out too much last time, and the share price has suffered.
Without Dargues and with a drive towards Peak Deeps production I could have seen a very healthy bank balance. That cash would have been more than adequate to get Federation moving forward and to take Great Cobar from the sideline into production, while returning to explore Dominion which in itself had some good initial results. Dargues owes us a lot more than 50Koz/a for 5 years...an awful lot more.