Ann: Pacific Operations Update , page-32

It's OK to say poor management

But up until the last few months I was very happy

I mean Leonora is going well and it was all about getting
Simberi up and running at under $1100 Asic

They had more than $100 million cash to do it

They have probably only spent $35 million so far
In capex and loss

But I can't understand the time wasting
Spend whatever is needed to get the operation at full ticker

The other thing is that Tim Richards is probably the least
Experienced of SBMs Site managers
Surely they should have all there best there to get things going

Absolutely astounding
More than a year more before Simberi is at full speed

Brrrrrrrrr