Ann: BofA Global Metals,Mining and Steel Conference Presentation, page-16

I find it an interesting exercise in investor psychology how on the nose RRL currently is. I agree with your sentiments that RRL is currently setting itself up to be a high quality gold producer for the next 10 years and possibly beyond. Many don’t want to see the forest through the trees. In the short time since the Tropicana acquisition, with the POG increasing $AUD 200, some seem to have moved from rating the acquisition as an unmitigated disaster to being OK. When gold breaks through $AUD 3k this year there will undoubtedly be people rating the Tropicana asset as the steal of a lifetime. I am looking forward to the RRL story unfolding in the months ahead.