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"Gold production during the December quarter
totalled 37,000 ounces with revenues of $23.3M
[US$17.5M] at an average gold price of
A$647/oz [US$485]. Cash costs of A$488/oz
[US$366] were impacted by delays associated
with the underground development and
production at Marvel Loch"

"Forecasts:
Forecast gold production for the March 2006
Quarter is 40,000oz at a cash cost of $520/oz
[US$390] and for the June 2006 quarter is
50,000oz at a cash cost of $475/oz [US$356] for
a financial year total of 175,000oz at a cash cost
of A$450/oz [US$338]."

Margin is fine . . . it's the loss of it's unhedged producer status that is off-putting