low volumes, page-2

I think we have seen the first of the clean out with more to come - period

By now the board must be acutely aware of being "on notice" and that certain operations can not be continued on the present basis.

We know there is a major "exploration drive" and good to see - but it is the "bread and butter" operations that appear to have gone down the ...................

So - time to establish serious "bread and butter" operations - stop fuffing about and wanting to be a 500Koz producer ( no point producing 500Koz per annum if it cost you 300 bucks an oz more to produce than you can sell for) - go back to basics:

Produce 150 Koz pa at a total (C3+royalties+D&A) cash cost of 1150.00

I that entails cutting of the arm of the "group operations" that gave you gangrene - so be it.

If UG resource is too expensive - cease it.

Find those touted "resources close to home" and start designing pits optimised for 1350 AUD/oz.

Apply the KISS principle and build upon that.

Everything else would be cream on top or as we would have to say right now "pie in the sky)

Had a talk to them today and suggested a new motto:

"Producing Sustainably for the Future"


End of rant for the day.