Thanks for your detailed reply. I had not gone back so far to...

Thanks for your detailed reply. I had not gone back so far to see that. I was more concerned with the June quarter than the previous quarter under-performing, given their reduced guidance. Their guidance indicates only expect to produce 18koz this quarter. Assuming you are correct with Golden Age / UG being close to expected production at 4.5 koz then it would be the open pit operations letting down the production still, not the UG as I was thinking.

I had thought that the underground operation would be more significant. I don't have the figures up but I seem to remember the capital development they added to last quarters AISC was about equal 400 koz each from the open pit strip and the UG development (bit less). I don't see how this makes sense if the UG is only forecast to contribute 20% of the quarterly production.

It seemed to me your figures were more referencing the previous quarter. What do you make of their forecast production from the June production, if as you say the UG is ok then what gives with the open pit, could it still be influenced by flooding? I understood the plant had been working at capacity, just grades low, but are there more issues with the plant also?

Thanks again for your comments.