Ann: Quarterly Cashflow and Activity Report , page-70

Very amusing Sharpshooter.

On another note, if you look at the expected production costs then it appears that management are expecting to mine 1000 ounces next quarter if you use previous guidaance (i used that + 10%ish).

Production costs for the quarter - $900,000
Costs per ounce - $900
1000 ounces.

This is obviously if they can blend to get a head grade of 10-12gpt.

If the old timers could mine at 1 ounce a tonne I dont think it is unrealistic to use machines to get 1 third of that but time will tell.

Even with limited production I still believe this is quite achievable. Thats only 3000 tonnes to be processed over 3 months.

I think what some have to remember here is that head grade is really going to vary over the next 12 months and probably longer. The nuggety composition of the VIC goldfields works both ways. At this stage they havent hit pay dirt but we know from history that it is there. We also know that the old timers generally mined at shallow workings and didnt mine below the water table.
Moving 50 years on technology is far more advanced.

Im not going to lie I am feeling quite nervous about my investment here at the moment however I do see that at this point it appears the only factor holding back the company is grade and I believe from my research and other information that has been provided here over the years that this can be turned around.
Time will tell and we'll have to wait 3 months to find out.
In the meantime back to the bottom draw for these ones.