Ann: Development progress - Lindi Jumbo project, page-9

Hi Semi,

I love your rose coloured glasses, for all we know WKT may have needed to modify the first 3-year mine plan as it is unlikely for Gemcorp to provide the company the US$25mil they indicated was expected to be drawn down in early May,

As you know the backup funding doesn't provide the same amount of equity as the Gemcorp funding and this possible saving will be costs that will be occurred down the track. Do you think it is more likely the Civil Contractor would have suggested these changes to WKT rather than Gemcorp? I imagine updating a mine plan would have taken significant time and resources to determine the best outcome financially.

It is amazing how we view this differently, you think Gemcorp funding is in the bag, but I view this update as WKT trying to save every dollar for the backup funding path. I guess we will soon see if Gemcorp's funding is successful or if WKT needs to start drawing down on BMCG's funds.

WKT's cash at the bank must be getting low with the so-called "Rapid Construction", what are your thoughts on the current cash balance?