Ann: Special Dividend, page-24

Hard to say until the Panel hands down its orders and we see how that plays out.

If Mr Billis retains control he will do what he has always done, manage the company prudently for shareholders.

I would hate to see control change as the value in Ghana asset has a good chance of being lost IMO.

The Kundana mines are a bit aging and the grades have fallen dramatically since NST took control although you don’t see that mentioned much by NST. NSt have recently grouped Kalgoorlie under one big umbrella. Before that they would publish the results of each individual mine, now they are all blurred together, very opaque reporting.

The irony is that the most transparent reporting on what and how much is being mined and the costs at the Kundana EKJV is through the TBR/RND reporting and I suggest investors turn to these reports as they paint the true picture of what is happening at these mines, albeit TBR and RND’a administration costs will be so much lower than NST’s and the processing costs won’t be necessarily the same.

Good luck trying to find details in NST’s new reporting arrangements. Talk about a company that courts the bordellos to get its share price moving. Buyer beware IMO. Esh