homestead development

Just looking through a presentation from 28 October, this contained a diagram of the development progress.

In summary

At 15/10/09 they had approx 320 metres to travel
Actual Development rates were in excess of 100 metres per week
Target development rates were 79 metres per week

From the above info this would give a three to four week time frame from 15/10 until development was complete, I would expect an announcement shortly that this is the case, which in my view is a sigificant positive for the company as they will have access to a higher grade ore source that will lift the average grade processed and increase production volume and assist in lowering unit costs (mining is a volume, grade and recoery game).

This may all come at the right time as the gold price continues its ascent, as has been posted before this could be a good christmas present for holders.

Cheers

TW