SEEKING ALPHA ERROR ALERT !! They got it wrong in their posted transcript!! Some on here need to get better sources please before reposting stuff on ihub taken from seeking alpha; seeking alpha is obviously a joke, made proven and clear by this. See below the seeking alpha transcript: (See underlined, the word weary was never really used in real life, rather vary, and the sentence was different) See real earnings report via company website.
Samuel T. Coetzer - Chief Executive Officer, President and Director
Thank you, Dan and Jeff. On the back of a strong quarter, I'm very pleased to say that we now expect 2013 annual production to be higher than what we said to you a few quarters back in the range of 325,000 to 330,000 ounces. But all we expect to achieve further reductions in operating costs throughout the company over the rest of the year, our current cost guidance remains relevant. We will shortly commence the pushback of the Father Brown pit, and we will continue with the successful Tailings Retreatment Project.
Lastly, we are planning to start in-fill drilling on the high-grade zone below the Wassa Main pit. Over the next 2 years, production will continue to be sourced from the Father Brown pit, Wassa Main, Bogoso North and Chujah pits. As discussed, this will be supplemented by ounces from the Tailings Retreatment Project. We expect production for the next 18 months to stabilize at an average production rate achieved in 2013 to date. And of course, to secure future production, we will continue the permitting processes at Dumasi, Mampon and Prestea South.
In conclusion, this has been a great quarter, in which we have made solid progress towards sustainably increasing production and continuing to reducing our cost. Looking ahead, results may look weary with plant changes in grade processed. But I believe the long-term trend on the key performance metrics is and will remain positive. With the enhanced resilience of our existing operations and the improving prospectivity of our development projects, I am optimistic about the fourth quarter of this year and 2014.
I will now turn the call over to the operator for questions that you might have. Thank you.
