Ann: Quarterly Activities Report June 2012 , page-2

Another great result.

Things I liked:

"Record annual Group production of 137,457 gold equivalent ounces (“oz”)."

Very close to my optimistic target of 140k.


"Pleasingly, at Casposo the “winterisation program” has already performed well with the site operating through periods below minus ten degrees Celsius (-10C) with minimal impact on plant performance."

This totally stuff us over last year, good to see they have addressed this issue.


"Although Andorinhas production was down on last quarter this was predominantly due to mining lower grade material outside the existing ore Reserve and thus adding to mine life."

Great to see they are increasing mine life without decreasing production too much or increase cash costs by a great deal.