Chairman's letterThe Cash cow is coming home.We have achieved...

Chairman's letter


The Cash cow is coming home.

We have achieved significant milestones at both the Myhree open pit at Kal East and with the Paulsens Gold
Operation (“Paulsens”).
In November 2023, I expressed the view that Paulsens will prove to be a cash cow which will produce
consistent cash flows over a long period of time. This will come true shortly.
I also indicated that there were plenty of other potential cash cows in the herd. Our “outsourced” funding,
development and processing of the Myhree open pit will further this bovine currency quest.
Our strategy was to buy straw hats in winter. Winter was longer and colder than expected. However, it is now
time to break out the sunscreen and to make hay.

China deal dead man walking. Less stock on issue as a bonus.
The Chinese should just walk and save everyone the time and effort.
The resolution requires 50% or more of shareholders voting “For” to pass. As of close of business on 23 July
2024, ~30% of shareholders have voted as follows:
Against -110,475,007 (96.7%)
For - 3,803,157 (3.3%)