Their phase II development is advancing to each step-change in...

Their phase II development is advancing to each step-change in overall throughput. Current capacity is c. 450tpa and will step up to c. 650tpa in the next quarter according to their plan, so the current quarter is constrained by practical limits.

I am more than happy with progress as originally these two quarters were expected to produce 15k oz - so 18k/qtr is a bonus.

The ultimate target is 1000tpd which will allow production of c. 40k oz/qtr. Although, by the sound of it, they are already looking at further expansion to cope with additional ore from the surrounding vein systems external to the current Co-O mining area.

It's great to find a miner that (over)delivers on their targets. I am here for the long haul and perfectly happy with progress since the end of FY2008.