While having to adjust your production forecast for the final...

While having to adjust your production forecast for the final four months of the year after only 1 month is highly embarrassing, there is actually some good news in this report. For me the biggest issue has always been over the resource model. The close grade control work has found that the original estimate was pretty close which is quite impressive given the nuggety nature of this deposit and the limited infill drilling that was done before mining started. The grade is only down 8.3%, but the total ore tons are up 10%. The margins on this resource are more than enough to make a large profit even at the current pathetic mining rate.

The gold is there and once the solvable mining problems are sorted TIE should be a cash machine. I am glad now that they chose to go with a equity funded model as I would hate to see what shape the SP would be in if we had Taurus involved.