Ann: Share Placement Completion , page-5

Australian gold miners have a higher economic risk than KRM because of
rising costs due to the $AUD drop.

For example, Australian gold miner input costs such as diesel, machinery and parts are all up by 12% this year due to he AUD devaluation and Aussie
labour costs are some of the highest in the world.

Given this, Indonesian soverign risk is well offset by Indonesia's low input costs
and this is why KRM is one of the lowest cost goldies in the world.

So, in summary, EPS is more important in the long run than the market's short term percieved value (P/E).

Cheers
Moorookamick

PS: The CR raise has went well considering the SP held up well on Monday. MM.