Ann: June Quarterly Report, page-2

well ,,,,lifted guidance twice and only got to the bottom end ,,,

Anyway quick glance.

Gold production up

AISC $1055AUD/ ounce produced
Average Gold price achieved 1532 AUD,,,
Average gross margin $477
Revenue on gold up approx. 18M, however that will seriously reverse if this current QTr move continues with POG AUD already at 1480,
52ish AUD lower than last QTr average, that's serious amount of cash.

Cash costs, Cadia drop, that's good, but I think they went for higher grade and costs lower as they buried them buy capitalising them,,,,still precomissioning it lol
Telfer Costs way up 994 to 1124
Lihir $6 fall/ounce produced
Hidden valley big costs jump on QTR 1678-1772
Boniko monster increase 708-1226!

Was expecting potentially a big production knockout after two guidance announcements, especially in copper but it appears they didn't deliver it,1PC increase in Gold production after cutting cutting cutting is poor imo

AUD falling, POG AUD falling and USD debt increasing isn't a good situation.

All interesting rear view stuff.

COSTS were higher but the game of lowering by capitalising them via constant precommissioning continues....joke

(5) Cadia includes pre-commissioning and development production from the Cadia East project of 754 ounces of gold and 80 tonnes of copper in the
June 2015 quarter, 2,578 ounces of gold and 291 tonnes of copper in the March 2015 quarter, 7,093 ounces of gold and 673 tonnes of copper in the
December 2014 quarter and 10,635 ounces of gold and 1,058 tonnes of copper in the September 2014 quarter. Costs associated with this production
were capitalised and are not included in the All-In Sustaining Cost calculations in this report.
(6) Includes 21,142 ounces of gold, (7) 3,022 tonnes of copper, (8) and 13,111 ounces of silver from Cadia Hill.
Higher head grades from Cadia East Panel Cave 1 (PC1) offset the suspension of production from Cadia East Panel Cave
2 (PC2) following a seismic event in PC2 on 25 February 2015. Mine production from PC1 was only marginally higher
quarter-on-quarter due to a planned 6 day shutdown to improve the high voltage electrical system. Ridgeway achieved​

record mine production during the quarter which was partially offset by the anticipated fall in head grade from this mature