Ann: March quarter 2017 update, page-7

Loki - SAR bought King of the Hill and Kailis (high grade deposit with ASIC costs of just $880 AUD) which will be brought online soon. Also, they just finished mining king of the hill (although hard to tell without digging a lot deeper whether it paid for the closing costs). That being said, will wait and see how much they get when they sell it.

Overall, I am happy with the quarterly, I think the ASIC would have been exactly on forecast of approx $1350 if not for the rain event. Suffice to say, with them already tracking towards 80k ounces for the June Quarter, if they hit that, then SAR will finally be adding to its cash pile in a substantial way, plus proving they are a 300k p.a producer. Worthy of getting the sorts of multiples that NST, RRL etc are receiving.

It states it clearly, this was the last be heavy capex quarter, from now on, ASIC goes lower, production heads higher and SAR can focus on building a cash pile, paying dividends and seeing its share price re-rate.