Quarterly comments, page-5

thanks dr spok for the helpful synopsis.
  regarding: It also explains why getting mining costs down and finishing the drains / settling dams will make a really big difference to cash flows.
but given the tepid reaction of the market will this make much difference in the longer term? I ask.
The enterprise value of this ( now) profitable gold producer equates with the $22m  EV so triumphantly recorded by the former chairman at the 2013 AGM..This when the CDO order was in place, the wall failure had happened, the stock was suspended and there was then no visible clues to when production would commence.Admittedly the gold price was at that time $1300 .
Fast forward 21 months . CDO lifted, production has commenced and the share price has halved.
It is capital management-  ie addressing the share price-  is what is required and soon lest RED fall to an opportunistic takeover and those precious cash flows will be owned by someone else .