Ann: Investor Presentation - January 2016, page-36

Eshmun

My post wasn't a crack at KDR as your buying in for the future performance, not the current one. Same with BDR - I bought recently because I believe MACA will solve their material movement problems and the new management will cure the previous management errors.

If you follow BDR closely the low grade issue was affected on an ongoing basis by the problems moving the ore. Most quarters they were supplementing the ore mined with low grade stockpiles.

Anyway forecasts for production and costs aren't too far away so we can all have fun breaking them down and comparing it to it's peers and relative market caps.

BDR is 15.5c and KDR 9.5c so will be interesting to compare down the track.