Excellent overall results. Q1 production: 31,495 ounces at a...

Excellent overall results.

Q1 production: 31,495 ounces at a head grade 6.8 g/t gold. x4 = 126k oz/yr
Gives confidence that all the work which is ongoing in the mine is paying off and is setting the stage for a minimum 50% increase in output. 125,000 oz this year, 150,000 oz next?

Financials.
"AISC US$953 per ounce (June 2015 quarter of AISC US$1,076 per ounce)". So a $120 per oz fall in ASIC in Q1 cf Q4.

"As at 30 September 2015, the Company had total cash and cash equivalent in gold on metal account of approximately US$11.6 million (30 June 2015: US$14.6 million). This reduction in cash and cash equivalent is primarily attributable to net cash movements in the creditor/receivable accounts of approximately US$8 million."

Net cash fell by $3 million but would have risen by $5 million if an $8 million movement in the creditor/receivable accounts is ignored. Probably this will be smoothed out in reporting the Interim results in the New Year. So underlying cash generation is starting to improve as the company has forecast.