Ann: Company Update , page-3

I reckon its a contractor trying to buy a management style contract maybe....Thiess, Valbrook, Byrnecut (and Barminco or associates?) have at various stages all worked in Norseman.

Management at various times have mooted underground contractors but havent implemented this. They didnt muck around with the open pits..contractors from day one!

Maybe the closure of one of the mines was done with the knowledge that once the dust settles putting a contractor in the suspended mine is the beginning of the change from owner operator to contractor run mines..a defendable position definitely. Lets face it they cant keep doing the same thing as it has shown itself to be unsustainable.

Sometimes owner operator doesnt deliver the cost savings they supposedly expect....why i dont know? Alot of capex has been sunk so maybe they can recoup a bit of cash (or reduce liabilities) in the short term by transferring ownership?