Ann: Quarterly Activities Report & 5B to 30 June 2018, page-7

JKahn I think you are right on the money with these thoughts.

It must be front and centre of Simon's thinking. We have some ok-ish deposits in WA. Some that could be (are being?) monetised, but much of the AUS tenements seem to be akin to thrashing about, with limited value created so far outside of Cannon.

I'd like to know people's thoughts on the following:

Sell off Cannon in full, and some other prospects. Keep the very best - Transfind South for example could be a goer. But get liquid.

Set up in Korea. Cut the deadwood in AUS, maybe have a satellite hub in WA to look after our local assets. Use the funds and savings to really get stuck in to those juicy SK tenements, and prove up their JORC resources. Both those with BB, and the rest.

We have, what, circa 1 million ounces on the v.low side in SK, and with fairly low AISC at least initially from Gubong. That is a company maker.

It's not the only path, far from it. But without SK, where would we be right now?! I wouldn't be here that's for sure, and I expect that goes for most of us.

Cannon has been / still could be the golden cashflow goose. And it has got us to the big one (SK) that was always the long-term intention. I think they have done well to put us in the current position by and large.

But let's bring that cashflow forward (sell stuff, if possible) and commit to SK if we think that is our future. We do have something akin to first-mover status there as a western company, and so far SK looks to be very accommodative of our intentions.

Just my personal thoughts, as a believer in this company.