Ann: Quarterly Activities Report - Dec 16, page-5

This result, IMO, is good because:
-AISC down considerably in fact one of the best in the business.
-Financials don't include inventory (unsold Gold, dore & concentrate) which, IMO , should be $2.28 mil
Approx
-Cash also excludes the $3.5 mil environmental hold back
-The 5450 oz hedge @$1753 Aus (Over 33% of Mar Qtr production.) This , IMO, ought to have been
announced previously because its earlier release would have affected shareholders & market expectations of share price (market looks forward)*
Our next big ann should be the Reserve/Resource upgrade in light of the excellent recent drill results.
Given that LOM & P/E are closely related, this update ought to be made ASAP & not at the end of the Fin.
year because, IMO, it is price sensitive.
But all in all, this is a good report and bodes well for AMI over the next 3 months, IMO.

We should offer congratulations to the new CEO on his regular stream of announcements; a great improvement from the old regime.
Mm.

*PS: Civic was spot on in his post # 21182738 (7-12-16)when he said that a director had mentioned further
hedging at/after the AGM.