Ann: Becoming a substantial holder from MUFG, page-9

Straight to the point in basic language.
The aquisition sign off.....will happen next week [ 30July ] subject to another offer being delivered prior to then. The present share price
is reflecting many things least of all market uncertainty regarding other due news......such as Kalahari assay news / area resource update and
any possible movement of Sandfire in this direction to equal Cupric JORC........I know most have done the usual personal due diligence but would
have not speculated outside this scenario for fear of ridicule. So it is pure patience at the moment........but whether its Sandfire or another......
in Sandfire's case........just concider what they bring to their future share price.....with the potential of what they have elsewhere and what
Botswana will deliver. Now is the time to buy in.......throw the lot at it. MTR is certainly sitting pretty too. But its BOD
holdings which will deliver Sandfire Divi's iff you hold now. Otherwise you have to wait for the next issue..........and bear in mind Sandfire has just
had a record production month. Regards.