Ann: December 2016 Quarterly Activities Report, page-30

Cheers for the reply 69.
The Tanami is an interesting one. NST saying that they just are too busy does not cut the mustard for me, they have put it on the back burner for a reason, why, no idea, but after having the project for so long (or operatorship of it anyway). Sure, it will make money with a gold price of AUD $1600, in fact it will do a lot better than its highest cost mine, yet... again they are not rushing.

As for what price they will have to pay for Tanami's share, perhaps $120m, but they still have to put in a fair bit of capex etc too before it gets into production.

MLX - surely they are out of the picture. Although I agree, that would be quite humorous.

I forgot to add, that NST have $300m in cash, plus $160m in gold sitting in the plants. So almost half a billion dollars. That is a lot of capital do something with, a good problem to have of course.

I try to keep a close eye on NST if only because, do date, they have proven the smartest/deft management in the sector (yes there are other great stocks, but... they were mostly sitting on great assets from earlier on). Good luck NST holders.