another good ann., page-10

In many ways I like that they provide the the detail without the un-hyped delivery. It allows those interested in the business to get a good picture of what is going on and make their own decisions without being mislead by exhuberance.

One thing I would find helpful is a bit more information about their forward planning and also pointing it out if they decide to change their plans and with an explanation as to why.

For example we're hearing a lot about Paxtons at the moment but I thought they were also planning to (or are currently in the process of) driving down on the M2 and processing that ore - and I thought that was going to be fairly high grade ore (the stuff that face sampled at 90g/t?) - but we haven't really heard whats going on there recently - is that because they've changed tack or are they doing the paxtons stuff in addition to this etc. etc.

They do repeatedly say "grades and tonnage are expected to be conservative" ... so we can read something in that surely!


In relation to the costs - the last quarter was an expensive quarter - they were lining the shaft and doing a lot of other work equipping the mine and putting in the alimak lift etc. as well as a lot of driving, rising, creating ore passes etc. They should spend considerably less this quarter to last quarter and at the same time generate considerably more revenue - especially if the gold price keeps doing what its been doing the past couple of days.