record production of 8,873 ounces for august

Record Production of 8,873 ounces for August

First month of production after completion of process plant upgrade exceeds expectations

Highlights
? Randalls process facility upgraded by 25% pa
? Target production of 100,000 ounces pa
? Forecast cash cost of production for FY2012 of $550 per ounce
? Operating margin of +$1,200 per ounce at currents spot price
? Recent ore Reserve upgrades underpins minimum 6 year mine life from open pit sources only ? no underground production potential included
? Underground trial mining set to commence in December quarter
? Metallurgical recoveries expected to improve above forecast 93% as result of process refinements
? 1.4 years of stockpiled medium grade ore with mining cost paid