Ann: Change of Director's Interest Notice , page-9

Hi Debit, the stockmarket works in mysterious ways..you invest based on doing research for the most part. Some are punts, clearly but clearly we invest because we see potential, even in the short term with some companies. I had the same dilemma with DRA years ago. Another Gold producer, was doing ok in low figures - then about 2-3 years ago opted for price consolidation, and has been down since..other than the initial lead up and profit taking post consolidation. Dra had more against it, climate conditions affecting mine season..fine lines reg oz's. I look at MOY and it just seems too good to be true, but for the life of me can't see why its being sold down...there is nothing negative..even when you start throwing in POG drops, and re calculating profit, they are still hedged, and should come out on top. If it was bad we would have seen mass exodus for the door, but this just seems like a slow bleed, hence I'm thinking accumulative buying to shore up a TO position. Thus far whomever the instigator is must be laughing because they have had absolutely no resistance to their orders being filled. They will get what they want, and unfortunately when they come out with a low ball TO offer, none of us should be surprised, as many appear happy to sell into the slide.

Frus-trait-ing!