Ann: Mt Remarkable Gold Update, page-31

Good point, Binwood. Gold project is still early days and the impact on KRC will be minimal.

Key catalysts will come from :-

- CS/SS on Vanadium
- CS/SS on Fluorite
- Agreement with Strategic Investors

Sale of Fluorite asset or spinoff going to JV may be considered to fund capex costs for Van/Tit. I envisage a similar strategy for Gold project if proven feasible - perhaps a JV with FMG.

The point is that KRC has various options to deal with its assets and to raise funding - in a way, we are lucky as such.

The other important matter, which I have raised before, is KRC must engage a financially strong/established Strategic Investor. Anything less could bring risk to the company and will destroy shareholder value. Am sure TB is aware.