Ann: Full Year Statutory Accounts, page-3

Yes I agree they should be sacked.

At least with Hedley pressing ahead with his concerns we have been able to benefit from the dividends...... and since the Takeover Panel announcement the share price has started to move to a level that it should be......

The annual report is it's usual waste of time with no context to determine the performance of the operation. If you don't know how many ozs of gold were sold how can you possibly determine how good a profit of $42M really is....... It's actually conceivable that the operation is making a loss at present and we wouldn't even know - the cost of the sales in the accounts relate to 3 years ago and there are clear indications costs are increasing. It looks to me like more gold was sold than produced in the year, and in this situation you would typically expect the "Changes in Inventories" line in the P&L to be negative - as it was in the first half...........But with costs being added to inventory it means the gold that was sold (due to the "First In First Out" principle and the large inventory held, the gold sold would be from 3 years ago) was a lot cheaper to produce than the gold being produced currently.......Clear as mud.

.....and the audit and tax costs are just stratospheric......What is really going on in Ghana that over $200k in tax advice has been needed over the past 2 years????....I looked at the NST, RSG and PRU professional costs in their reports, just for comparison, and these costs are a huge!!........

......further indications change is needed.