I find it very interesting that Newcrest has been absolutely...

I find it very interesting that Newcrest has been absolutely slaughtered relative to EVN the past few months, largely on the back of production downgrade, which was in a large way attributable to the sale of Gosowong.

Now EVN have come out and sold Cracow that’s approx 100,000 ounces of production gone. NCM was slaughtered for doing the same.

My point is that the relative value of NCM to EVN (and NST and others for that matter) is enormous. EVN trades on around double the price to NTA of NCM. There is a big relative gap there that will be filled in the not too distant future in my opinion.