Ann: Investor Presentation - February 2014 , page-3

Kinzu, the reason the sp hasn't gone up is because KRM has been 2 months away from restarting production for over a year. Noone knows when the Indonesian government will approve the last permit.

I got out on the last delay announcement, particularly with the 2% extra on the loan interest.

I am surprised the sp is holding up so well. Must have a lot of very strong long termers on the register. And why not with the fantastic grades and low cost of production? However, it doesn't matter how good the grades are if you aren't allowed to dig it up.

I watch closely and will be back in with boots on the second the light goes green.