keith goode report, page-16

Hi, Slura.

If my post sounded arrogant it wasn't meant to be...

All I am saying is that mgmt have provided the info before - anything material has to be announced to the market. And by commissioning the report FML have done what you are asking anyway. (Hence my comment abt commissioning)

As for Stage 1, Stage 2 etc, I think they are doing that. Look at the Investor Pressos from earlier this year - of course not as much detail as the research report but that would bore the pants off a room full of FMs/investors sitting through 10 different pressos back-to-back.

And, following on from one of Pinto's points, with 4 or 5 rigs going at different targets it's difficult to pre-empt where the ore will be coming from/rigs going in 6 or 12 mths - the latest Percy Nth results a case in point. Similarly any results from TI, Lindsays etc may change the immediate/med term game plan. (I'm sure if we found Pinto's elephant that would change the game plan, too). As conservative as mgmt are, I doubt they'd make statements to the market they couldn't back up (or had to ammend).

Finally, commissioning an "independent" analyst to write a research report means the SP/CC/tonnage/ozs estimates can get out to market while mgmt keeps their hands clean. Think about mgmt's stated 100k ozs target for FY11? Now we have 2 analysts who have hinted at 120Kozs...

I might be wrong sometimes, but I try to call it as I see it - for or against mgmt.


Cheers,


C12


PS: I think Rod is on the money (marketing)