Ann: TAFTA Update, page-25

Not setting up higher expectations. I’m willing to keep TAFTA forever and using it every time a bad government comes in on power or any bad government officials withhold our future permission like they did in 2011. Looks like current government is sweet and wants to get rid off TAFTA so that they can attract foreign investors and we can help them or we can expand our business to step in other metals but we need assurance like this will never happen to us and a token for our revenue loss. Remember we are paying more royalties now which means we are losing more money than before. Good thing is they do understand us and our management is trying to achieve everything softly where both parties understand each other.

This is the shortest extension both parties agreed on and finally we will see a settlement. I want Thai government to win at the same time we want to win too. If they give us royalty discount and $50m compensation then we will return them 1000times more to their economy. Kcn shareholders will always fly in thai airlines and Thailand will be our first holiday choice.

Let’s be happy with the situation and keep smiling until 30.09.2024.