Ann: June 2013 Quarterly Activities Report , page-3

Average sale price for six months was about $1,450 with average all-in C3 about $1,250, so you are right Plough, they only made about $200 per ounce on the 85,000 ounces 6 month production that was shipped, which was about $17m profit for the half, but the cost of moving to an owner operated mining fleet was about $35m.

Compare this with MOY who had profits of about $600 per ounce on C3 costs.

The next 6 months should be better for NGF, they want to sell Mount Morgan and buy more gold mines with the backing of Zijin. If you read on the weekend the couple of articles and statistics on gold imports into Hong Kong and China then it is easy to see why, the China gold demand has gone ballistic (if it wasn't already).

Gw