sept quarterly & cashflows out now , page-22

This is a bit disappointing for shareholders for the 100,000oz 2011 target to be missed.

So basically we have prioritised our capital to the Laverton purchase and other exploration over the Mount ramp up. Part of me understands this for the longer term, the other part of me would have liked the ounces out of the ground. The main disappointment for shareholders is that there was an expectation up till today to meet this.

I am still onboard with Focus' plans, there is significant long term potential here - I won't be out of this company, but will adjust my holdings and be ready for opportunity coming up to Dec/Jan I think.

So where are we at with our underground mines; One of Focus' latest presentations showed us 120k oz/yr.

Mount - this looks like the main issue, basically we are not getting the tonnes out of the ground. Focus are chasing 40k oz/yr here, we produced at rate of 18k oz/yr this qtr. Focus showed in a presentation I think last month the Mount had a ramp up of 4mths to 60kT per qtr, this qtr we only got 33kT. The ramp up of the Mount substitutes the lowgrade stockpile to get us the Oz.

Tindals - We are chasing 55k oz/yr out of here. Produced at rate of 60k oz/yr so no dramas here by the look of things.

Open Pits - Ramping up to 25k oz/yr. Produced at rate of 16k oz/yr this quarter. Once ramped up we can get another 2k oz/qtr here. Not sure what the ramp up timing is.

The Mill is not too far off the 1.2Mtpa nameplate and good recovery.