For the hundredth time, yes the directors made forecasts before...

For the hundredth time, yes the directors made forecasts before funding was obtained, yes it was a mistake... but the bottom line is:
-cto now has funding, up to $35m (albeit $10m gone but most went to one-off machinery upgrades)
-cto got funding in October 2008
-electricity upgrade was also completed around then
-it takes at least 6 months to tunnel too & develop each face (repeat 6 months)
-therefore basic maths says production won't ramp up until at least 6 months after October. We are barely there now, so nothing will be reported until 31 July.
-we are in the here and now, not the past.
-the company has plenty of cash available and is producing gold at a profit (if it were at a loss, they'd stop producing until tunnelling finished - again basic maths)
-also Mark Lynch salary is $378k, not $500k... and that included a one-off long service payment.

NB: Do not expect any increase in gold production in the upcoming quarterly, due out 30 April (but that doesn't mean they are not on target since receiving funding).