Ann: Full Year Statutory Accounts, page-22

Hi Rafton and all,

I agree Mr Bill Philips is indeed a Western Australian mining veteran; however, he must also be a good age these days. I'm not saying he is no longer as sharp as a tack, he’s proved in the past he knows his craft but I doubt even he can do everything on his own that needs doing to run a mine of this type. Mr Scott Huffadine may have had his own skills but clearly not the type of guy to give the 110% effort required these days.

I’m personally retired from my engineering business I left it to younger people to run when I was 55 and I am not sure I would be able to cut the mustard at 70. However, I still keep in touch with what is happening in the mining supply and mining business. Wages and contract rates have been savaged in the industry over recent years and quite frankly I feel someone on a $250,000.00 PA package should at least be able to look after basic housekeeping matters such as the forestry permit. We also have a national local speaking partners that should be aware of and head off these kind of problems seen at KRM.

I think it is just too much to ask someone like Bill to run the mining and not be well supported in the office in WA. Also to be clear even Bill himself is often quoted justifiably “You only get one Kerry Packer in your lifetime”.

The days of trades charge out rate of $150.00 per hour are long gone and these days if you have managed to hold onto your job you are doing well.


http://www.australianmining.com.au/news/hastings-deering-could-cut-more-jobs

I don’t wish Mr. Scott Huffadine any harm and I hope he takes the time to consider his future I would suggest a move into politics I feel he would fit in well and were blowing large amounts of other people’s money is not so noticeable.

If you check MM numbers you will see we are not asking a great deal from the miners I know hard rock mining is not easy but it really is not much more than a few wheelbarrows of ore to be moved by each miner a day.

As long as I am writing this I may as well ask if we shareholders can be given a regular flow of information. What is the water situation, what it the plan to mitigate the water issue! No point in holding back now:

When will they be removing ore and producing Gold at a price several hundreds of dollars below the selling price as previously promised.

This company could one day deliver I just hope we are all around long enough to see it!!!

Cheers and very best regards: Andy