Ann: Matilda Gold Production Update, page-4

Where to begin with this announcement.
Clearly HH are not worried about the slower ramp up.
Stockpile is getting ridiculous. If they could have mined it, they would have 15.5k ounces produced!
To date, only 3343 ounces produced. With another 6 weeks left, my guess is they will produce perhaps another 6500, or around 10k, which means if they follow their quarterly cash burn projection of $40m, they will have burned appox $23m. Leaving them approx $10m in cash.
I really hope they throw all the high grade ore straight in, as recoveries look great.

That being said, I think they should raise $10m with some small amount of options for holders as a sweetener. I am actually surprised that option holders have not taken up what is currently avialable, that would inject approx $6-8m alone.

Not surprised that things have not gone exactly according to plan.
At least they can simply close out the hedge for a profit. 10k ounces with a $65 buffer will add $650k to the cash balance for the Dec quarter.