cash and recievables $312m ...mc $200m , page-15

Hi guys,

had a quick chat with Tony regarding the buy-back.

The divi policy cant be changed now, so no buy-back after the settlement of Lady Annie. After the sale of Marampa later this year, a 100M$ share buy-back will be initiated.

Imagine what a 100M$ share buy-back could do to the shareprice! It will take the price beyond 1$ /share. Say 100M$ spent for a buy-back averaging 70c/share = Share reduction of 130 M shares in total.

Now let's just hope that we get a decent price for Marampa.
The current price might be a historic buying opportunity if things pan out according to plan.

Cheers