Ann: Update to Zijin Put Option and Exclusivity Arrangements, page-15

Webinar was broardly positive IMO. I'd much prefer the issue to be Zijin moving slowly, than them trying to push a lowball offer. Looks like I hold the same view as Colin, if Zijin want 100% of Karmagtai, now is the best time for them to do a deal. The 25% put option is not a good outcome for Zijin, and the longer they wait the more valuable XAMs portion of the project becomes. Ending of the exclusivity period just adds a bit of extra competitive tension. It's not in either parties interest to keep kicking the can, so I'm convinced we'll see an outcome in the coming weeks. In the interim I may even pick up some more cheapies when the impatient bail out