Not to late and all but, page-3

Mistie
That's how a gold mine works , you cut back , costs are higher , you get to higher grade ore , grades improve and costs decrease , that is how gold companies achieve the average AISC . The Saturn and Mars pits have for the last two quarters delivered margins of 450 an oz. They will use these funds as well as the high contribution to transition to the next high grade source . An AISC of 1250 during this period is not bad , it's very decent . I would expect the quarter after that to improve to about 1150 and then back to 1100 with higher production . Not suggestion this stock doesn't have risk, all stocks so but even if future AISC average was 1200 ( well above projections ) and realised gold was 1450, they would still be making over 28 m a year in cash. My point being is the margins are robust and the cash already made insulates the company in a big way