Ann: LoI signed with Chinese Mining Company , page-9

G'day Dan.

Interesting things happening.

Laurence Freedman gone now. He has been a saviour of KGM for the last few years and John McKinstry was just plain unlucky the way gold did what it did price wise. Laurence wanted to retire a couple of years ago but I think he was persuaded to stay on awhile. What really killed them was taking over Mt Jewell from Pioneer but, as they say, it seemed like a good idea at the time. lol

Will be interesting to see how the scoping study is being funded and the fact that there is an American group looking also, as well as the Chinese. I know which way I would prefer to go but, I have a feeling that the decision is already made.

It is hard to know now if this is a company for the bottom draw or for the back door.

In my opinion, this company was stuffed up years ago when Frank just wanted to find 4 million oz's and then sell it on to another company. The trouble was he didn't do a good job of proving what was there and no one would believe the figures. The money was spent on prospecting that was not up to scratch.

I like the company because of the incredible ground they have so close to our major/premier gold areas.

Pity about the $30,000 mate and, I would have to be down even more but am not game to check how much as I would probably go out and buy a "do it yourself Hari Kiri kit". lol. I remember when they were over $2 and the talk when they made it back up through $1, after falling at one stage, saying that we will never see them back down at $1 again. Yeah sure. I must admit to feeling uneasy when I read that way back then.

Pity we don't have the money now to put into a couple of million shares as they probably will come good in time.

Regards

Lockitt