Ann: Quarterly Activities Report , page-9

G'day Dan.

Yeah, it is a tragedy but I feel they are just keeping their heads down at the moment.

They certainly pulled the right rein by not jumping in head first with a plant and all the costs and debt that that would have meant. Imagine if KGM were in that position now.

I would like to think that if the gold price were to turn quickly, and it does look like it could happen, that John may be able to return. That will depend of course on if he finds a better opportunity in the immediate future.

I would like to know what is in Iron Mountains thinking in taking up a substantial holding in KGM and where those shares are coming from.

I would think that they, however is selling that is, would have notified regarding a change in sub holding. Likewise if Iron Mountain is still buying I would have expected a updated sub holding notice there also.

There are other substantial holders of course who could be divesting for any number of reasons but again I would expected notices.

I sold out not long before John Mc left when, after holding for bloody years, I just could not see the dream anymore after the drop in gold prices.

I would probably not be able to resist getting back in if there was good news but, I am too old now to throw money away which is what I have done with KGM for many years.

I would to hear from Richard Possum, just to catch up on HC about KGM, but I suspect he has long washed his hands of the company. I hope he has made a killing somewhere else.

Lockitt