Ann: Quarterly Activities and Cashflow Report, page-2

+$62.2M operating cashflow and cash of $150.2M plus $66.1M term deposit gives $216.3M at end of quarter!!! The term deposit doesn't go in the table at the end so as usual the report requires careful reading! Looks like we are waiting still for production to peak, Bonnie Vale proved it can keep increasing tonnage, now up to 86kt this quarter but at a much lower grade than previously. Peak production requires this kind of tonnage to be pulling out the higher grade zones as mined in previous quarters.