Ann: On-market share buyback update, page-8

I really do hope that there would be no share issue as part of any settlement with L&M. That's a lifetime share of profits for a mine that's as good as dead. There should be enough cashflow to cover L&M (should we lose) as well as Crown Mountain. I'd be happy to wait a few more years for a dividend or for them to use debt to cover everything. If it was to be shares then it would have to be a very low quantity to justify the dilution. If L&M had kept the mine it would be worthless to them now. I've always thought the deal was structured as a paper asset rather than one of tangible value. Why else would there have been a payment clause that equates to 'if you don't use it you don't have to pay for it'...