Ann: Announcement of buy-back - Appendix 3C, page-2

interesting doing a buy back, usually works out nicely for shareholders.

probably puts a floor in at 30c

Chile assets would get at least $100million on a trade sale, say 50c a share. refer to Note 14 of the accounts for detailed assessment of fair value

Then we have potential restart of Chatree plus insurance payout.

I think they should spin Chile off into a new entity, raise cash from punters as part of the spin off as part of the debt/equity financing of the mine. They should do that after finals feasibility study.

The remaining assets retained in KCN. That's how you maximise value for the punters

Without a doubt KCN offers best risk/return ratio amongst gold equities right now if you are prepared to wager a positive outcome with Chatree