Ann: Half Year Accounts, page-4

Thank you for the TA, doudou,
Even if we look at the fundamentals of the first 6 months to 31st Dec as KRM
ramps up to full production and annualise this we get:
NPAT to Dec 31st = $$7.630 mil
Annualised.............=$15.26 mil
Number of shares...= 360 mil (approx)

EPS ....................................................................................= 4.2c
Share price with a P/E of 10..............................................= 42c
Share price with a P/E of 16 (ASX 200 average) ..............=67.2c

Given that KRM is ramping up to full production the P/E ought to be on the high side, IMO
with the best case scenario in future being 500* ton/day throughput and an average grade
of 14 g/t with the splay vein feed. (this will produce at last 50K+ ozs for KRM)

Given that the new CEO is in the role for well over a year and that presumably all the bad news is out there,
then he ought to be now promoting the company and its future prospects rather than minimally supplying statutory information such as quarterlies and half year reports, .

We have potentially a bonanza in the form of the Splay vein which has been tapped almost a year ago.
a plant with a daily capacity of 385 ton throughput a day and currently running 70 ton (5 truck loads)
of ore short, a new Talang Samin mine with rich a gold vein at the surface, yet there have been no
press reports, follow-up broker reports and no general public presentations to let the market know
what potential the company has with the exception of the 30k-35k ozs for the year up to 30th June 2015
which scotched the previous 40K forecast)

While the market is always interested in what the company has done, the chief concern is what
management and the company are going to do in the future; particularly 2015-16. No forward information
is usually interpreted as being that the management don't know and that, IMO, is why the share
price is languishing in the low to mid 20s.

Perhaps the company will give a general investor presentation soon with a Q&A session
to qualify its future prospects .

At a $1525 /oz gold price, the POG prospects looking reasonable and a low Indonesian cost of production,
KRM should be in a much better position than most other ASX listed producers, IMO and its share price should reflect that.

Good luck to all
Moorookamick

* Post a $2 mil spend to upgrade the plant as previously announced.