Ann: Final Director's Interest Notice , page-3

With Gold at 1250 USD I fail to see the point in casting out a potentially valuable asset in Mt Leyshon. Mt Leyshon has value in the 'optionality', i.e. that the gold price may go up it is worth something. Sure this depends on drill results etc but no one is going to fund any second phase without wanting too big a share.

Key with Option pricing models is the time to expiry, the longer horizon the more valuable it is. If they cast it out now with only 3m and the gold price at 1250 it doesn't leave a lot of time until the oppie expires and they will need to dilute it just to maintain it.

IMO Paul has missed his window, I hope he just comes clean with investors and explains this. Tells us that ZJS7 was a water well, and that the Chinese winter is upon us. And then tell us the plan for next year! That's all we want to hear.

Still a bargain at these prices below cash. Oh and start the damn buyback again, soak it up back to cash levels at least!