tindale, page-33

Hi Tindale,

You ask what was the mix?

There are rumors that the smallest component was royalty. I would suggest you are so far wrong on your suspicion it's a joke.

You guess the Mt C option was sought for ramping purposes.

Have you totally lost it?

From the ann about the deal falling over:

“The Board and staff have spent eight months investigating this potential purchase and a considerable amount of funds and time on due diligence,including over 800 metres of diamond drilling, with interesting results. We are bitterly disappointed that a very generous offer was rejected."

If the whole thing was just for "ramping purposes" they could have spent a LOT LESS money and effort to achieve that!

Would ANYONE with even a scrap of decency tell shareholders that they were "bitterly disappointed" over the rejected offer if it were not so, and they had never intended it to be so?

Put another way: would anyone with even a scrap of decency so DOUBT the integrity of such a comment? As you have.

Why did they "bang the drum so hard"? Imo its because they believed in the project, they expected the deal to happen - it did not. The goal posts were shifted, a generous offer was knocked back.

RAU were bitterly disappointed. AND so was I!

BUT its not all over. RAU is a pressure cooker ready to go. The end of March is coming. A little further away and you might even have had to choke on your wine.


Cheers