Ann: Trading Halt, page-35

Great detailed post. A couple points on the decline and what appears to be some confusion based on groundhog's comments. The current disruptions and decreased production outlook are totally unrelated to the Tigerway decline advancement. The decline is a major project but it is completely separate from the operations of the mine at this stage.

On the flip side to that there are possible ways the decline could do more than just extend the life. The decline is 5m x 5m so it can handle modern trucks and higher tonnage. There is gold sitting at higher levels which was too far from the shaft to be economic but if you can drift over a short distance from the decline and use larger trucks you may be able to increase production there. Also with the larger trucks when you get down to Level 12+ to the new levels there is less rehandling of ore which improves throughput (although probably lowers AISC more than increases production). Also if, and that is a big IF, you can get the stopes turning over quickly enough you could see a production increase. Let's not forget the mill is running at 60% utilization or less. This is never going to be doing 200,000 oz but 110,000 should be achievable considering what they have done in the past and the new infrastructure.