sbm up in 3% down market, page-3

enoonmai

June 2011 Quarterly Report

Gold production for the June quarter of 72,860 ounces
was 19% higher than the previous quarter.

... proceeds from the sale of gold on 30 June
2011 of $17 million were received in early July.

King of the Hills underground mine commenced gold
production in May, and produced 7,066 ounces at a
cash operating cost of $699 per ounce for the June
quarter

Consolidated gold production for FY12 is forecast to
increase by approximately 30% to between 320,000 to
350,000 ounces, driven by a full year contribution from
King of the Hills of between 55,000 to 60,000 ounces,
and an increase in the grade of ore mined at Gwalia to
between 8.0 to 8.5g/t Au.

No's aren't dissapointing BUT agree there is uncertainty mainly due to short life / high costs at Sthn Cross.

At current gold prices these guys are making v. good $$ at the moment.


kbxk508