My thoughts: 1) If you only look at the headline numbers, todays...

My thoughts:

1) If you only look at the headline numbers, todays news is underwhelming. A closer look shows things are way better than those.
a) Lower production due mostly to waste removal and adjusting wall angles. Also transition to fresh ore. Shrug. You have to do those things from time to time; averages out.
b) Lower income due to building up bullion. Given the Price Of Gold last quarter and the POG this quarter I'd say that was a very good decision.
c) "recovered ounces still reporting over 30% greater than for the modelled resources. This trend has slowed in the Caloma pit for the December quarter as it transitions from oxide to fresh ore with milled tonnes reconciling about 13% greater and the milled grade about 3% greater than the reserve." That's still a lot more gold than originally thought, even at Caloma !
d) "FY2015 production estimate has increased to 65,000 – 75,000 ounces."  Lets say 70ooo at 700 AU$ (1600-900) profit, thats 49mio op profit / year.

2) DZP
a) Improved recovery of REEs is always welcome, especially if we can do it cheaper ...
b) "A new mining lease application lodged" - sound like we'll get the PAC permit (yay) but with some additional requirements (promising no uranium mining?) ...
c) Wonder whether the FEED completion needs to wait until we get the PAC Permit


All in all I'm pretty happy with the report.

@Re Hafnium:
http://hotcopper.com.au/threads/hafnium.2414771/?post_id=14382044#.VMjMUdQ1jkh