Ann: Results for Half Year Ended 30 June 2017, page-3

Hi curious,

I thought it was ok but this stock is not about the past, it is the future which has cost some $65m+ to get down to - the good ore ! I don't see a lot of selling coming into this stock for people to take up the Options as most of the options are held by people who bought at the bottom and have so far made 300% on the C'Notes and were issued these options for free, making another couple of hundred % on the C'Notes purchase. To have bought back then, they knew what they were doing and what the company was trying to achieve. The CN adjustment is just accounting stuff - mainly for when they call for the repurchase and trigger the conversions. 17/18 should be a clean set of figures !

Rain and repairs happen and I think we can all wait another month or two. Can just see the announcements in October 1. Cash position improved due to Options exercise, 2. Mining grades improved due to mining the good stuff and 3. I hope the copper price holds up and I wonder if they will hedge some more production ? (in excess of the 6000 tonnes at A$7900)

Buy more ? why not - its only money and they are largely de-risked now because the money is spent and the hard yards are done !!

All in my humble opinion of course.