Half Year ReportBasic Earnings(Loss)Per Share(cents)(4.24)vs...

Half Year Report

Basic Earnings(Loss)Per Share(cents)(4.24)vs LY(2.74)

The consolidated loss of the economic entity after providing for income tax was $22,415,769 (2008:loss $11,031,614).

Shares on issue 1,036,713 vs LY 410,994

Gold Produced 31,528oz
Average realised Gold price AUD$993/oz
Cash Cost AUD$853/oz

NTA 0.26 vs LY 0.34

Corporate expenses (8,002,387)vs(5,411,172)
Share based remuneration (6,819,755)vs(4,130,120)

Cash and cash equivalents $157,241,528 vs LY $20,529,979.

Proceeds of equity placements $159,545,451 vs LY $10,806,452

Cash and cash equivalents at end of the half-year $157,241,528 vs LY $1,718,906.

Read page 21;
Non Executive Director options issued 11 November 2009.
Executive Director options issued 11 November 2009.

The recent capital raising of $161mil has masked how bad this result is!

The SP will slide further towards the low 20s.