Ann: Acquisition of South Kalgoorlie Operations from Westgold, page-4

On first impression after only a quick assessment it looks to be a very smart move by NST.

First, it is about the acquisition of a 1.2 million tonnes per annum gold processing mill. NST have been planning a very expensive improvement at KB that might not be needed now due to this acquisition. It is only 50km from Kunduna and this new mill will be suitable to take the load of free milling gold from Kunduna and thus free up additional capacity at KB to process refractory gold.

Secondly, the acquistion comes with both an additional Resource Inventory and more importantly a nice Reserve Inventory to add to the overall Resource and Reserve Statement for NST. More importantly, there is between 30k to 40k oz of gold that can be produced from the acquisition immediately. If the Reserve Inventory is reliable then that looks to be at least 5 years mining or more??

Lastly, the tenement package is prosperous for further exploration because it is in the region of Australia's best producing gold terrain.

So, overall it looks to be a good move by NST ............. once again.

Cheers