Good News & Bad News, page-37177

It can be waived if needed depending if the other three aspects of the policy are not yet met. Capital to managing overheads and maintain a good balance sheet to protect against times of volatility. There is a hierarchy still in place theses are the company even states " prudently allocates" capital management policy.

If miners start to go under as it been driven too looking at CXO. Management will go into preserve mode and be rationale like that have before. They mentioned the drops in cash held is due to the dividends they paid out. Remember the decline started after the annual report and last dividend was announced (market didn't like it).