Ann: Sipa Reaches Agreement to Divest Thaduna, page-36

Happy new year to you and everyone else Lockitt.

I'm hopeful Lockitt that the new M.D is not a person to sit on her hands being iterative. She has thus far hit the ground running and implemented more change in 6 months than this company has seen in a decade. Fingers crossed we dont have Mike 2.0

You will get absolutely no disagreement from me on replacing those rusted on members of the board. They need to go. That so far is the big mistake IMO that Lynda has made. There could be a method in her madness though. Time will tell.

Unfortunately we cant chance the past. There is not a lot Lynda can do about the way Mike spent our money.

I have seen many people selected as replacements by their predecessors. You are right so often they pick someone who is almost a clone of themselves. Funny though how once given the reins of power many will then do things their own way. From what i've seen so far i think we have got someone who is determined to make her mark and distinguish herself from her predecessor. Hope im right about that !

I have a feeling rightly or wrongly that the new M.D will not be a person who does a great job of communicating with shareholders. Apart from that which she is required to by regs. It can be something that takes up a huge amount of a managers time.

With regards to Northern Star and those Ashburton tenements. It looks like ol Mike got that one right IMO. That gold is so costly to produce that Northern Star have not even bothered to process any of it. It will take a gold price much higher than current price before it comes even close to being economic.

We should get a pretty strong newsflow over the next few months. Fingers crossed the ship turns around.