re: Ann: Update on Rooderand Project Legal Pr... Very good work...

re: Ann: Update on Rooderand Project Legal Pr... Very good work Maxy!

I think your little bit of research helps to explain why the share price moved last week. Very positive developments, which would not have gone unnoticed.

The initiatulion of coverage by Patersons could also have helped, but I do wonder when this report became available? I get the feeling it was some time before last week? And therefore how does it the explain the sudden movement?

Three points to consider:

1. Why the company chose not to mention this ruling (or patersons coverage) as a consideration for the sp movement in their response to the ASX speeding ticket? And why they chose the two points they did? (i.e. must they be in high level discussions of some type regarding both points).

In my past discussions with the company they have always said the door is open to tyre-kickers (offers) and the funding reqirements for the Rooderand project have been well flagged! So what has changed for them to make these public statements to the ASX?

2. Why the down-ramper(s) have picked up momentum? Why the feer mungering?

3. What deep pocket investor would like our S.A resources? PAN? Japanese JV partner? Chinese? A cornerstone investor? OR Anglo (perhaps easier for them just to buy into the JV now, rather than fight a no-win legal dispute against the dept. of mines!).

These are questions I ask myself.

I am confident that the production at Smokey Hills will continue to improve and that the Rooderand issues will be sorted sooner rather than later. As such I am willing to bet that PLA management will be working hard to extract the best deal for shareholders. With a couple/few key dates and triggers on the near term horizon, I don't get the feeling that long term holders will have to wait much longer.

Thanks again for your efforts.

Cheers

Gus