Ann: Quarterly Activities Report , page-6

Hi all
management have managed cashflow well -despite 4 rigs being idle and considerable mine infrastructure spend + exploration- cash went UP .I forget at times that the Au cashflow is really just a byproduct of exploration.Approx 300tonnes were processed /mth the gravity circuit can handle double that and the initial trial cyanidation was medium grade ore.The delay in bringing the rigs back into Brazil is a pain but as they stated -been here before .So I,m happy that management have been able to progress both businesses without negative cashflow.I,d expect that by Q4 mining to be pumping along at 600t/mth thro gravity + 3x tailings at 500t (with approx 2 oz/tonne gravity + cyanidation)with all rigs in excess of exploration deployed -all the while exploring these highly prospective leases.Was hoping for a retrace to low 6,s but not to be ,the above q4 is doable and the SP will not be under10
cheers van