Ann: Operations Update and FY19 Guidance, page-172

As always I read the posts with interest. All the posts together gives you a good perspective of the feelings around BLK. About the 6 months figures: when you go back 6/7months and compare that with the current state there is no denying that things are getting better. The production just above 40.000 OZ is oke. That they still are able to bring down the debt is oke. There are some , for me anyway, unexpected higher costs. Management should have seen that this was coming in april, so my conclusion is that they were so eager to put positive news into the world after Q1 that there were a bit too optimistic. So I can understand that some investors are disappointed with the 6 months figures. I can tell that management is slowly learning to communicate more transparent, read more realistic, for there FY 19 production levels. For me the state of the miningbusiness is not what surprises me (it is hardly seen that a turnaround is going so fast that all you wishes comes true just in 6 months), the "state of commiunicating with the outside world" is what needs to be of a higher level. By dooing that the will avoid unnessessary disappointments and will support the SP in a more "smooth"path towards their intrinsic value. So I am not disappointed with the business, their communication must be better and I can only advice them to invest in that. They will be handsomly rewarded for that.