Agree with your sentiments mblb; well done to management and...

Agree with your sentiments mblb; well done to management and board on the big step of becoming a producer, again for PLY and for the first time for SXG holders. BOK is aiming for production of 200,000 oz per month. Cobar Resources only once produced more than 200,000 oz per month from Manuka and that was Dec 13; they shut down operations 3 months later. Prior to this, they averaged 100,000 oz per month or thereabouts for 17 months. Cobar's Investor Presentation of 5 Mar 14 indicated operating costs of AUD$18.50 per oz, aiming to lower to AUD$16 per oz. BOK has stated it has improved throughput and performance, so it should be safe to assume costs are under AUD$16 per oz. Trying to get a handle on the value of Manuka to BOK in the coming 6 months, working on spot silver price of AUD$20 per oz gives a margin of AUD$4 per oz. If they achieve their stated forecast of 200k oz per month for 6 months, there's AUD$4.8 mill profit by September before they move to gold production. This equates to 11c per share for their 44 mill shares on issue, or 5.5c per share fully diluted for the Trailstone convertible note. Either way, a pretty good outcome if they can achieve it. The ramp up stage is always risky, but at least the first positive steps have been reported.