Ann: Half Year Accounts, page-7

Hi Andy, MM, etc

I'm not sure that we need be too concerned about a takeover. The largest shareholders have held for years and were buying when the price was around $1.30 to $1.40. They also have experience in gold.

So they have plenty of skin in the game and are most unlikely to bail out at current prices.

Apart from that, I agree that we need to be given more information, particularly a clear explanation why production has not ramped up almost 9 months after permission was given to restart mining and why we have not yet accessed the higher grades.

Underdone