Ann: Drilling Update, page-18

Understand gravity being admonish and warn for years.

We have all been here for a long time (Drugo, newb, gravity, Hiddenvalue, etc.).

One only has to say about the last few months WMX is getting better than BLK was.

Afterwards a strong hedge at over 2600aud, also the 25mio capital increase to believe 1.42aud was now good.

The last 2 quarters were okay and great too.

Sure, the production is less, but the AISC is also lower and therefore okay for me.

Hope we are not taken at such prices.

Believe more and more that they can make Stage 1 and finally produce over 100,000 oz.

No buy recommendation