As for me interestingly have been also:a) estimation that Kulu`s...

As for me interestingly have been also:

a) estimation that Kulu`s cash costs will not be very
differant to Diki`s

b) they intend to refinance with much more favourable
repayment terms (about time... those RMB`s terms
with short repayment schedules have led to
for much too long to an embarrassing tight working
capital situation that bound(ed) Anvil´s opportunities
Munro should IMO not only contact RMB, there are
other bancs/fianciers around too.

c) Capex for Diki Stage III in order of 4 mio.
(so not that high)

Dull have been IMO opinion the broker`s questions...

Surprisingly nobody commented on the decision of
a revised mine plan for Diki, i.e. going underground
sooner, which is IMO the right decision.

Re the "shortcomings" in quarterly profits:

From my understanding main reasons are:

1) High inventory levels (they produced 5777 to but
only sold 4720 to, this being the main reason)

to lesser extents

2) hight degree of waste stripping

3) high admin costs (hopefully temporarily) coz of the
legal issues

4) exploration, evaluation and development costs
for the new projects

The M&D could have been more detailed in explaination
though.