Cash Flow For Q2, page-16

Further to my previous comments - a slight correction. My CF estimate is actually for Q2-Q4 (i.e. 9 months) and this could vary between $30m and $40m depending on cost allocations in Q1. I have stuck to previous guidance (which has not been varied) of mid-point Cu production of 14,000 tonnes for the year and C1 cost (excluding reallocation of deferred mining and inventory adjustments) of $US1.50/lb. The next quarterly and interim accounts will remove some of the guesswork about actual cash generated but I like the increased interest in HGO shares despite limited upward price movement.