Ann: Suspension from Official Quotation, page-15

Saracen doesn't need to acquire a project like Coolgardie or MT Bundy, their focus is developing projects close to their processing facilities that are already very profitable for the company. Saracen is expected to produce over 300,000 ounces this year with outstanding performance over 3 mining operations and increasing resource base, gold grades with ongoing deeper drill drives down depth at all operations. If Saracen were to be aggressive with a takeover the most logical option would be RED 5, since they already have a large interest in the company.

Evolution mining has recently pulled out of their JV with Emerson Resources in the NT, with Evolution only retaining a predominately copper rich tenement that also hosts gold. The most likely takeover offer for Mt Bundy sits with Kirkland Lake Gold as they've been increasing their exploration expenditure around Pine Creek and further development of their Cosmo gold mine to bring it back into production.

For the Coolgardie operations I'm banking on a takeover coming from West Gold as they look to benefit most from acquiring the asset. The Shandong Gold and Focus Minerals is an interesting concept given there could be connections with Primary's non-executive director Mark Qiu who runs Hanking Investments Australian division.