Ann: Indicated Resource at Takatokwane , page-11

As Walkabout Resources is 100% owned by NMR obviously Mulligan as the MD of NMR is involved in it!.

As far as the general grizzling about the dilutive effects from the share issue arising from the resource upgrade at Takokatwane is concerned, this has been known ever since the deal for NMR to buy Walkabout Resources (which owned the coal leases)was signed.
I know for a fact that the NMR Directors have been uncomfortable with the dilutive aspect, which comes straight back to the weakness of the NMR share price, but at the end of the day they have to press ahead with developing the project,which means drilling to get proven reserves .If you want somebody to blame, I suggest you start with the idiot day traders who sold the stock down to the current silly level. No doubt they are the same people who are now complaining about the dilution which they have brought on themselves.