Ann: Chatree Gold Mine Plant 1 Update, page-45

Nice to hear from you. Well, in my view, the overwhelming majority in the thread there have a somewhat nonsensical attitude.
We've been battling since before the closure in 2016 with a system that's very much about draining and tapping into others' pockets. I don’t know of any case where a fight has been carried out so steadfastly and successfully by management. After all, we went from 25 cents to 160 cents in the last 5 years?! Significant concessions were obtained (new stakes, tax breaks, etc., etc.). One plant is operating above plan after maintenance, and the second one is successfully in its start-up phase. We are still under the "Taft umbrella." The rolling equipment has been brought up to the latest standard.On the other hand, Thailand wants to expand its trade and investments both within Asia and, for example, with the EU on an FTA basis. I think the Thais know that this is not possible without handling our case extremely carefully. On the other hand, there is the "face issue," which makes a favorable or even very positive official stance very difficult. The attitude of the forum participants, who repetitively call for "information," is incomprehensible or unacceptable to me. RSK and J.G. work in the Thai way and will never openly disclose information. They are fighting against the "system." Why should they feed it with any information whatsoever?It's actually quite foolish with what intensity a pack of wannabe CEOs is acting here. Those who invested a few years ago have little to fear in terms of losses, with a Tafta ruling as a Damocles sword (over the Thais) in the background. This is about more than the possible damage sum the Thais have to cope with. There’s a lot of international reputation and missing investments, etc., etc., at stake. It’s a different world nowadays compared to when a bailiff in Munich chained the jet of the current King to enforce the claims of a German construction company. Today, in such an economic environment, a similar action, if backed by a ruling, would have a much stronger impact. And the Thais need investments!The vast majority of my investments have been running for well over 10 years, even if KCN requires some nerves, but rather due to the Thais' tactics. They are not doing themselves any favors here, as investors certainly don’t view the process of this case positively either.Everyone must decide for themselves how secure and potentially successful they consider their investment or possible investment. You have to assess it yourself.Enjoy yourself, and with our long start-up, hopefully, we will soon approach the ramp.