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March 2015 Quarterly Report

Key Points

  • Group quarterly gold production of 34,538 ounces at total
    cash cost of US$843/oz.
  • Chatree produced 15,899 ounces of gold at US$604/ounce
    and Challenger produced 18,639 ounces of gold at
    US$1,049/ounce for the quarter.
  • The Chatree processing plant was not operating for 44 days
    during the quarter as a result of a temporary suspension
    notice issued by the Department of Primary Industry and
    Mining (DPIM) in Thailand.
  • Strong drilling results continue at Nueva Esperanza, Chile.
    Recent results include the following:
  • 12m @ 3.24g/t gold & 118g/t silver (5.2g/t AuEq60)
    from 232 metres in ECHR-84;
  • 21m @ 6.62g/t gold & 260g/t silver (11.0g/t AuEq60)
    from 149 metres in ECHR-89; and,
  • 20m @ 4.12g/t gold & 115g/t silver (6.0g/t AuEq6)
    from 177 metres in ECHR-90.
  • Cash position at quarter end was A$66.1 million after debt
    repayments of approximately US$5.5 million during the quarter.

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