Ann: Quarterly Activities Report, page-19

Hi Gain7,

Only had a chance for a quick listen today and was more interested in the Q&A. Dan was asked about the AISC by a private investor. Would refer all to listen to that response and why it is high.

The hedging of 55koz seems small and short-term but required by the lenders.

I haven't been posting much as there is nothing much more to add to my previous posts in Oct/Nov. I didn't expect any significant share price rise until mid year. Kairos doesn't really get into the high grade gold before then. I hope I am wrong.

I did note Dan said marketing activities would begin late in the March Qtr which is WELL overdue. I think Peakabooau had organised the Brisbane Mining Club to invite Dan to speak. Maybe by the March Qtr they anticipate a lot of good news and have something to spruik?

Watching to see how the market digests this news and the brokers/fund managers that were listening in on the call. They will determine if this falls under 40c.

All the best.

KKR