Ann: Kalgoorlie Operations Update, page-12

eshum, while GOR does have a lot of land, as I understand it, its main project would require upwards of $400-500 million to develop. So for now, I think that is an impossible task, unless POG goes to 2000+ and stays there.

I very much agree that you need to discover a decent sized gold field, there are quite a few in W.A that are not developed, albeit, they are usually very low grade. I am more talking about deposits that have been discovered, are of a decent grade for open pit 1.5/2.0 g/t with underground potential and open at depth. With capex requirements of perhaps $80-100 million to bring into production with gold recovered of approx 75-90k ounces per year, with ASIC below $1000.

I also agree that W.A is very mature overall, but.. IMHO there really are a couple of projects that still have a good profile. But.. of course, I am just a small time investor in the gold sector. I really do think that the likes of NST/MLX/EVN/RRL are going to have to look at slightly small projects to ensure their production profiles contain an element of growth.

I am trying very hard to position myself to benefit in some small way, so I am in turn, trying to understand as best I can what the likes of NST and the others mentioned above will be looking for.

Well done to NST holders who had the vision to buy years back. I clearly failed to fully understand what they were planning to undertake.