quarterly report is negative, page-8

Petey, I don't have a problem at all with your backing of RogueTrader on this, just mind your investment carefully.

For instance, just watch the spin that SIH and its supporters put to the market - as a guide read the reply I have just made regarding the comparison with GRY. (I have not said for one moment that GRY has a good project, I don't know why you refer to that company, it maybe a good comparison but I have not looked at it).

I am simply stating what I see as the case is, and I suggest you watch how things develop in the coming months.

From an investors point of view, if you project the "possible" conversion of Inferred Resources into Indicated Resources, and develop a cash flow as a guide you will find very quickly that the project ownership by SIH, which is not 100% but 75% with Antam FREE CARRIED into production (ie SIH MUST pay 100% of capex!!!) to get 75% of gold production!!!, is not viable without lifting considerably the resources beyond the current level, bearing in mind debt repayment IF THEY CAN EVEN GET IT!

I am more concerned that some people will actually invest in SIH expecting what the management has stated is achievable, and clearly its just SPIN without any real backing when you look at the details!

Good luck - and I will continue to maintain my watching brief, just to keep the objectivity of any analysis and commentary being made.