Executin g t he T urn aro und Build ing Cash 7 Oun ce s Pr od u ce d Fr e e Ca sh Flo w Ca sh P os itio n Q4 2013 15900 44 M 85 M Q1 20 14 13700 36 M 12 1 M Q2 2014 13600 11 M 136 M Op er ation al A chie v e me nts Under Ne w Manage me nt Gen era ted 9 1 mill io n in f ree cash flow sin ce re ap po in tmen t of Mr Ul oth Gen era ted 1 33 mil li on cash f rom op era tion s in 20 13 Initia ted mil l ex pa nsi on for Mishi pi t fun de d thro ug h cash f lo w Ca sh costs red uce d by more t ha n 4 6 Bo ard of Di recto rs restructu red an d d ow nsi ze d Upcoming Ca taly sts Ne xt 18 Mo nth s Qua rterly free cash flow gro w th at curre nt go ld pri ces 2014 20 15 Hi gh Grad e Se qu en ce at Eag le Ri ver Incre ase mil l fee d from Mish i pi t ex pa nsi on stud y un de rw a y Un de rgro un d ex pl ora tion at Ea gl e Ri ver be lo w ex istin g w orki ng s