What is management's best chance to get this stock to $2.00?, page-65

$500/oz was based on 300koz production. Last CY we did more like 130koz so that alone explains most of it.

I think the mine plan has completely changed. Delays in the specialist UG plant/expats meant they priorised the OP and used the high gold price to open up all the pits while still being profitable. This was reflected in the high stip ratio and large tonnes of ore being moved. I think though that this sets us up well if the gold price does stay lower than most expect.

Also it was flagged that the UG contains more gold then they thought and they are taking the time to mine it and at the cost of some dilution, although the grades are still high.

I think the new LOM will be very important as to me it should reflect a more steady and longer term operation, rather than a heavily front loaded one.