11% rise today, page-5

re: 11% rise today-oilleak Sorry oilly,
the emphasis on the presentation was on mineralisation along strike, how they discovered a parallel system almost by accident, and tackling an orebody at depth that WMC left behind in the 1960's-all of which complemented their recent lift in reserve/resources.
From a cash flow point of view Mike Ivey said the rough rule of thumb was one third exploration, one third development, and one third returned to shareholders.
Ivey wanted to pay out less to shareholders, Ron Manners wanted more.
No doubt they will remain active in the Kalgoorlie/Norseman regions in terms of exploration, but no mention of acquisitions in the corporate sense.
Cheers,TAS