Ann: May 18 Sydney RIU Conference Presentation, page-29

The company has done everything they said they would do.

They have reduced the debt from 120 million to 45 million whilst buying a mine that just produced 24k oz of gold in the first quarter and has many more years left in it

They have made a total of $50million EBITDA over the last two quarters alone, not including anything from Peak.

They have a minimum 4 years on both mines but as stated in the presentation a likely 8 years on these projects.

The risk is these figures disappear, and we just got lucky for the last two quarters.

Or they sustain these figures.

Obviously the market isnt convinced hey are sustainable because if you run a PE of 4 on these figures we would be about $1.

I will sit back and enjoy watching the next two quarterly roll in.

In my opinion as a risk to reward play, if they maintain the earning figures the stock should double or triple, if they don’t it will go down, simple.

I am a long term investor here and I am from the camp who believe these earnings numbers didn’t just happen as a one off.

Good luck all.