new start, page-55

K8 they do not have anywhere near enough ore to take the risk of spending over $3B to get it up and running. Cuervo's contribution at the moment is extremely minimal - it only really has 'inferred' and that means nothing really at the moment. Now if it was measured or indicated then that would be something and they need to work on this over the next year. Where will they get the money from? If they capital raise then SRK may need to spend more of it's money here. So be it.

I understand that many of you do not agree but I think that SRK has done very well over the past 2 years. We now own 100% of Peru and many of the problems that have halted the project as a result have been eliminated (2 years ago we were really in partnership with 4 other companies - D&C were 3 companies in one).

The only major problem we have now is dealing with the communities - and I accept that it is a very major problem and will dictate the success of this company. All as I am suggesting above is that over the last 2 years SRK has positioned itself to be in the box seat with this project which was no mean feat.

I feel that a current share price of 8.4c 'may' be a small price to pay for 100% ownership over the longer term.

As an aside I would like to state that when I invested in this company I was looking towards 2014/2015. Therefor I look at what the company is doing longer term than the short term share price. So long as it progresses each year then I am satisfied - and it has. We are now fully in control with no partners and the communities are now approaching us.

Sounds ok to me.