Ann: December 2016 Quarterly Activities Report, page-7

I hold NST and think they are doing great. Please don't get me wrong, but I have a few concerns....

There was a reason Placer Dome stopped mining the old Kundana (Strzelecki, Barkers and Centenary) U/G. Grades were good, the ground was crap as there was no back filling. The floor in the drives would heave and the long holes would close up rather quickly. There was daily seismic events and a lot of shifts were spent the miners never went U/G. At the time they were worried about loosing someone and it would have been more than one...... The last time I looked in that pit there was lots of polly dumping heaps of water from where ever and I could not see the bottom of the pit for the water, likely around 2007 or 2008. I can not see the ground conditions getting any better with time.

Do they really know what they are getting into and the cost ($) of going back into that maze? (all 3 declines linked up) If they get it wrong there will be a higher cost...... I would not want to be the mine manager in that case.

I have been down some dodgy holes over the years but that one I would say would be my last......