Ann: Quarterly Activities and Cashflow Report, page-4

No nasty surprises here. Regarding the forecast cash outflow for September quarter of $78m, this implies the company will reduce cash balance by another $12m or so to $33m and $94m debt. They will be operating at slightly cashflow negative status.

The open pit mined ore grades are encouraging at 1.7g/t although the underground ore is still down at 2.5g/t. Will have to monitor how theore grades turn out for the September quarter. But definitely not writing off the mine as being like that of Gascoyne.

To their credit, they seem to be quite good at estimating cash outflows for the subsequent quarter.

Currently busy with my newborn son who arrived a bit early. But stay tuned to my reports when I get around to it. I can read reports and give brief comments as I had but analysis will come later!