Disappointing 1st qtr production of 4,985 ozs of gold, due to delays receiving new equipment from a manufacturer and problems with existing equipment have now been resolved. Management re-iterated their production target for this financial year to be 40k ozs. @ a cost of less than $400 oz, thereby leaving much potential upside to the current 17.75p sp for this �25m cap co. Add in $18m of cash, a forward pe of 4 (house broker) and positive cashflow, it appears to be an attractive addition to a mining portfolio.
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Interim Results & Management Update by the FD, listen here.