Ann: Confidence in Silver Hill Improves , page-24

Many thanks Vic. Appreciate the response.

I will hold for a number of reasons.
I really like the numbers coming out of the measured status. Simple arithmetic tells me that even based on the worst case scenario this will be a very profitable operation.

As you are aware most of the current status is based on Silver Hill precinct. Their are a number of other hits that tells me this will not be an isolated orebody (powerline etc) So the ability to add to the total resource is very strong and most likely. Long life mines in good quality geo political areas are becoming scarce(even Lihir suffers from the occasional mine invasion).

Their is some corporate appeal with CQT and coming close to PFS means coming close to NPV. That means if GF want in they pay up. I do not think we will see a rise in the SP. For me this is about mitigating further risk from the project. Have been happy with the new "bugs process" as I thought there was some minor issue around arsenic levels.

Even if GF would want out for some reason (rule of 5 or 2 or whatever)I believe someone else would want in. It would be a good fit for a small to mid tier wanting further growth potential, diversify risk etc. Throw a couple in Dominion, Avoca, many others. If not project should be robust enough to stand alone

It appears more stock is disappearing into longer term hands. With GF and JJ and JT almost 30% of the stock is not being traded on a daily basis. Demand goes up, less stock to buy, pricing pressure created, SP goes up.

Mate I could go on. I like the silver play in this with the au/ag ratio needing to come back together. That is a few.

My exit price is undecided and will evaluate in a few months time.

On another note, I agree with this.

"Dont you think its strange that CQT has risen from 14c to 42.5c in three weeks without any "market" influence from the company."

I have seen many opportunities where stock could have been picked up a lot cheaper than it has been.
I am unsure if the current state of the company has warranted such a rise so quickly. Whilst I am not complaining I think a more steady rise over a longer period would have been "appropriate". Certain people are masters of the pump and dump as has been previously displayed. Hope this does not turn out to be a cap raising or other unsavoury episode at JJ's expense. JT and the company reiterated at the last AGM they would not need to raise capital( you said before you were at the last AGM, you would have heard this)they, the company, should probably adhere to this. Mind you, more than likely, JJ really likes the story like I do and they just want in big time.

Haven't heard from telfast for a while. A post from that neck of the woods would be positive

All of this rambling is my own opinion and don't take any of this into account with your own circumstances. Sell and buy when you wish to.