The gold production was impressive. Grade at Peak was 3.69g/t with recovery of 95.6% impressive so there's every reason to believe we'll get to the top end of guidance (or above) for full year given we have reached 38koz so far. Selling it at today's price is going to be a big bonus. Federation ramp up can only help this, with some very high grade gold intervals. We've spent $80 million on capital items for the year so far and looking at slide 8 this will decline in future years with water (9.6m), Peak optimzation (25 max) and Great Cobar (21) looking like the lion's share of 2026 capex costs. It's nice that despite the high levels of capex spending we've increased cash back to $106 million with $145 million available, but it's looking like the loan facility won't be needed. LOM is no longer an issue as we ramp up to 1.2mtpa, almost double last year. AMI looks stronger all the time to me. Oh and I must comment that at today's prices we are still a gold producer!
AMI Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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