Curious quarterly report. Lumps and bumps all over the place....

Curious quarterly report. Lumps and bumps all over the place. Appendix 5B has a few interesting bits too. Looks like they have already spent the $11 mil from the sale of royalty rights. Couple of big invoices that need to be paid. Presumably to keep the AISC down in the quarter. Production was a $ couple of mil over predictions but development was way out of the park, $ six and a half mil over predictions, looks like they need to accelerate development to get to the good gold.
Tonnes milled was impressive, 209,356. Another 50,000 tonnes per quarter and we've reached our goal of 1.1 million tonnes per year. Grade was a little ordinary, 3 g/t. MW described it as "mining sequence" Guess this was low grade ore that needed to be mined. If it had been the expected 3.6 g/tonne the upper guidance would have been reached. Caught me with my pants down. Considering there was a mill shut down in May to reline mill 1 and the installation of a triple deck vibrating screen in the crushing plant, this was a pretty good result. A lot goes on in this operation that we don't hear about but that's why we have management.
A part from the SP drop I was suitably impressed. Seems to be a focus on AISC at the moment. AISC is going to be high while this intense development and exploration is going on. I think in the original presentations when they bought Darlot and KOTH the plan was for four years of development and exploration. Still got three years to go. AISC ain't going to be pretty for some time yet.
If they can get to the 1.1 mil tonnes of ore per annum mark at 3.6 g/tonne we can expect 120,ooo oz to be pumped out of this operation per year. See if we can spend $200,000,000 per year. We've got the grades, we know that the mill can run at a sustained level of 1.1 mil per year, why not. Suspect Siana won't come on line until we reach this goal.