Ann: Jun18 Quarterly Activities Report, page-36

Evening folks,

Frankly the results are impressive. You can't do everything at once. They only took over Peak at the beginning of the year. But they have bought in the cash, extinguished all debt and I strongly suspect have a pretty good idea what some drilling results will bring in the next couple of quarters. Nymagee moving to a pre-feasibility study and a six month drilling program at Chronos indicate a serious intention to build a new mine and extend the rich reserves at Peak. Additionally the repeated focus on cost recovery and improving plant efficiency all indicate solid, focused management and they should be congratulated to have achieved this sort of result in such a short space of time.

Don't forget that over 36% of the company was bought (in about 24 hours) just over a month ago for 50c + by a number of new instos to the register. It will be interesting to see if there will be some more accumulation by these organisations at these levels.

Well done Aurelia.

All the best.

KKR