letter to brett

Just sent Brett an email, the main thrust I have copied below. IMO following the bullet points below are the best way to get the share price up as I'm not interested in having the biggest mine going, I just want the most profitable mine possible. I'll post the thrust of any response I get....



Brett,

........ and I believe that more emphasis on building:

• The smallest (capex) mine possible
• Extracting the largest amount of gold
• At the highest grade possible
• With the lowest cash cost per oz

...... will lift the share price from it’s current dire level. By publically favouring the 1.3m oz recovered option with it’s associated 'higher grade cash costs', this imo will allow everyone to work out the mines profitability under various gold prices eg using current mid case cash costs:

At $1200/oz – Life of mine Gross Profit $520M
At $1350/oz – Life of mine Gross Profit $715M
At $1500/oz – Life of mine Gross Profit $910M

Clearly if gold rockets again we can look at mining the lower grade, but for now it’s vitally important that Bullabulling is seen to be a mine that ‘will happen’ and also produce very good profits even at $1200/oz.

Official preference for the safe option in-line with the bullet points above seems to me the most sensible and best way to enhance shareholder value.