If i may, the improvement in production is a good positive, but based on the recently falling gold price, how many oz are in reserves that DRD can economically access. Most of the gold revenue is eaten up by the increase in the gold price over the past 12 months. The 12 month period Jan through Dec '12 and '13 will be the watch point in my opinion, especially when looking at quarter on quarter
Cash operating costs are kept nicely in check, but do they exclude capital in the cash cost, as with the company I work for we report on total NCE margin, which is a better relfection of all in costs
That is all my limited knowledge can add, but feel free to correct me if I am wrong.