Ann: Announcement of buy-back - Appendix 3C, page-12

Thailand is signed up to the New York Convention - The Convention on the Recognition and Enforcement of Foreign Arbitral Awards. Internatonal Tribunal may make the decision and it cannot be appealed. But it still up to Thai government to enforce the award.

Denial previous post indicates it clear cut dry case (which I agree) - Arbritration with take about 3 months but may get bogged down in Thai courts (for obvious reasons) In this scenario - KCN will need to survive on $44m cash for upto 24 months before receiving any monies without CR.

Buyback is upto maximium 22.7 m shares about 10% of the issue. if buy back is in 30 cents or above - that will cost KCN about $7m.

NE is had fair value assesment and got written down to $30m. They just did market test and got no transaction. In my opinion NE is a dud. Maybe if silver price boost may change NE propsects, but I think the problem with NE is very large accreage, requires serious amount drilling to prove up the resource. I think potential buyers of NE are waiting for someone to spend a bunch money on drilling and proving up NE before commiting to buying it.