Ann: Beacon to Pay Fully Franked Dividend, page-24

in all due respect capital management is just fancy words for saying running the businesses finances in an efficient and well thought out manner. Which is how it should be run to begin with. You can umbrella a few 'tools' under capital management but at the end of the day you're just aiming to improve the management of the finances through these tools. I wouldn't read into it as some groundbreaking new product or strategy introduced.

I think key to reading the announcement is the fact that they mentioned if 'conditions change' they'd consider it. Meaning even to date the large SOI isn't a 'concern', and until whatever 'uknowns' occur they aren't willing to address the capital structure. in being somewhat glass half full they've basically just reserved the right to take an alternative course of action i.e. actually LOOK at the capital management of the business if something else "happens" that isn't expected. Not exactly groundbreaking if you ask me....

Release of resource of mcphersons next week will be far more important. There was a big debate and issues some had with the post mcphersons announcement and the lack of value that I and some others saw. The resource etc. will be the deciding factor as you'll know shortly just how much they paid, and for what amount of ozs.I still can't imagine the chinese found a heap of gold and decided to offload it on the cheap. flogged it for a reason.