Qrtly ASIC $1150, page-147

Let me challenge the assertion that Quarterly BDR do not give projections:

In Q1 is this: • Gold Sales and Production - Gold sales for the quarter were 38,757 ounces gold with production
of 32,507 ounces. Production and sales were in line with the 2014 mine plan.

and

in Q1 is: Quarterly Production - As previously advised, significant improvements to the March quarter
production are forecast for the remaining three quarters of the year

I contend that q3 is indeed within the remaining three quarters... so, in Q1 they stated each qtr will significantly improve from the 32,507 q1 production. I do not recall any subsequent announcement adjusting that.

and from Q1

Revised Gold Production and Cost Guidance
for 2014
Gold production guidance was revised upwards
during the quarter to 200,000 to 220,000 ounces
of gold (previously 190,000 ounces to 210,000
ounces) under a revised mine plan. Beadell
remains on budget to achieve guidance cash
costs of US$535 – US$585 per ounce and
expects full year AISC to be in the range of
US$725 – US$775 per ounce.


Now I open myself up here, but has the revised mine plan been published. Because I am now told that q3 was planned for mainly stripping from Duckhead... and 'everybody knows that'. Yet, I see no reference to that in q1 report.


In q2 we have the rain, such is life, but they say

Duckhead Open Pit Mining Activity – Open Pit operations throughout the quarter at a reduced
rate due to the heavy wet season. Full operations resumed in July

Let me ask, what are FULL OPERATIONS... is it 3 months of stripping with no gold.

Also, we have: Outlook and Guidance – Second half of 2014 gold production guidance of 120,000 – 140,000
ounces remains unchanged with cash costs of US$440 - US$490 per ounce, AISC expected to
be in the range of US$640 – US$690 per ounce

Note the word PRODUCTION.

I just contend they do summarise the past Q and give hints,notes for the next Q.

Where oh where is the hint, note, revised mine plan, etc that states 'Q3 will be a shocker because we are simply stripping'. Honestly, is it possible, as I said, the gold was just not there and gold mining turned in stripping... just like production turned into sales?

I shot off a question to Paula re the $20 mill 'loss'. I got my calculator out, and I see 8k of gold sales over production about about 1200 is about 10 mill. Is it possible in the 33 mill was 10 mill of gold (8k) and they simply sold it. I dont know. I will let you know what she says.