re: Ann: Quarterly Production Report - Decemb... Hello all,I'm...

re: Ann: Quarterly Production Report - Decemb... Hello all,

I'm not too bothered about the reserve/resource update as the $37m committed to exploration hasn't scratched the surface yet and I think that will pay over the next 12-24months.

Costs this quarter were poor but then so was the weather and NGF aren't alone in being affected in that regard but it does look worse when C3 goes up towards $1500!

The real story is the next 2 quarters - they need to get C1 down to $835 for the balance of the year to meet their guidance so that would be C3 around $1100. If Blue Gums does 10k oz next quarter and Homestead 10k then only need 20k from the Navajo/JI open cuts to get 40k oz and that will lower the costs, as will the higher grades from Blue Gums.

I'm keeping the faith. By the end of march they will be net debt free.