In good shape!

Key Highlights
Operations
• Record production in the quarter of 9,598 ounces of gold, a 30% increase quarter on quarter, and a 110% increase
compared with the same period last year.
• Record production in the month of December of 4,623 ounces with 15,487 tonnes processed.
• AISC for the quarter was $1,179 and with increased production in the month of December C1 and AISC reduced
to C1 cost of $759/oz and AISC of $988/oz.
• Open pit mining at Rowdies and Wagtail established with surface stockpiles of high grade ore now accumulating.
• Processing plant upgrade showing benefits with 40,000 tonnes processed, a 39% quarter on quarter increase.
Exploration
Paddock Well
• Outstanding drill results from the first round of drilling at Paddock Well with assays including:
»» 5 m @ 6.23 g/t Au from 55 m including 2 m @ 12.67 g/t Au from 58 m.
»» 1 m @ 28.72 g/t Au from 72.6 m including 0.7 m @ 40.5 g/t Au.
»» 1 m @ 7.77 g/t Au from 70 m.
»» 2 m @ 5.46 g/t Au from surface.
• Mineralisation identified at Paddock Well appears to have similar widths and ore characteristics to ore being
mined at Nicolsons and Wagtail.
• Follow up drill program approved and planned to commence during the current quarter.
Wagtail and Other Regional Targets
• Drilling beneath the Wagtail open pits to test for potential underground mining opportunities is underway.
• Detailed mapping and sampling in the Shifty’s area was undertaken during the quarter with a number of
additional structures identified. Mapping to be reviewed in conjunction with aeromagnetic survey data which
has been acquired subsequent to the end of the quarter.
• The initial drilling program at Shifty’s was approved during the period, and will commence during the current
quarter.
Corporate
• Loan repayments to the CBA recommenced in December 2016, with a further 400 ounces repaid reducing total
debt to 7,780 ounces.
• The company ended the quarter in a strong position with $11.7 million in cash and gold available for sale.