Ann: Issue of Placement Shares and Appendix 3B-KBL.AX, page-34

I have found KBL to behave ethically and would expect the longterm convertible note holders to be paid out in full eventually. They have supported KBL with 38c per note and I would expect another extension with be acceptable to them. Suggestions that KBL should organise a takeover so that the note holders get the current SP for the notes make a good case for compulsory euthanasia.

The value of Mineral Hill is clearly shown by the efforts made 2 years ago to get control of it. I doubt if those involved then have given up entirely.