Ann: Quarterly Activities Report, page-14

the reserve grades for Maxwells and Majestic are good enough to see them hit guidance, personally I think the risk is on the upside

in H2 17 53% of mill ounces come from underground so any lift in underground grade has a big impact on cash flow. The company advised Lode 56 will replace higher cost sources. Lode 56 looks pretty juicy with upto .3m @290pgt and a number of multi ounce intersections. Historically these lodes can give head grades of over 12gpt if using air leg .

So best case is actually AISC of 1000 if everything comes together

Exploration results are excellent . Market is now factoring the good news from the BIF underground prospects which is going to support the price