Ann: Mineral Hill Operations Update and Funding Arrangements-KBL.AX, page-12

Quintana have security over mineral Hill and Sorby Hills until they have got their initial investment back. As is usual, finance providers have security; shareholders dont.

Paul, seeing as you are not a shareholder, you are correct in saying you will not pay to secure Quintana's risk or prop up their streaming profits.

As a shareholder, I benefit by KBL's future prospects being secure. So I will find some money if there is an SPP or a rights issue or similar. I would expect any offer to be well-priced and today's trading should make attractive pricing possible.

Longterm I think KBL is well placed to give me a good return.

However the haul road failure is an unwelcome delay.