First a complaint. The per mine data is no longer in the...

First a complaint. The per mine data is no longer in the quarterly and that makes the company less transparent.

Do the recent Q3 reporting and the subsequent operational update point to a possible reversal of fortunes? I think it does.

By my estimation the Operational Reset Plan should deliver positive net ASIC margin of around $20m over the next 12 months. This calculation is on the basis of OBM doing nothing else but mine Missouri and process the stockpile, assuming that Missouri continues to deliver the observed average grade of around 1.8g/t; gold price remains around $2500 AUD; and the plant runs at 95% of nameplate. All things being equal, ORP should deliver a great result for the Q4 quarterly as the stock on hand is sold and a good result for Q1 FY23 as mining costs continue to diminish. I expect OBM to have cash and time to better execute the next mine.

If Czerw is behind the ORP then that's a tick from me for shoring up the company. The stockpile is about 30% of ore mined to date. Its sunk cost and the gold on hand at the end of Q3 make the ORP work. However, OBM can't continue to mine so much marginal ore. Performance at future mines will be the proper test for Czerw, the perfect challenge for a resource development geologist. The plant has been basically derisked (92.8% of nameplate in April), the next step is for less digging and higher grades.

The ORP can explain Hawkes Point's position.

And thanks goodness there is no debt. Good luck everyone.