Ann: Special Dividend, page-46

Look I am pleased with the dividend but not they way it has been “extracted”.

RND/TBR had announced that they intended to commence paying regular dividends last year and I was happy with that development in the company/s evolution. I would rather have left it in the hands of Mr Billis to decide on the timing of increasing dividend payouts not use a sledge hammer to make the omelet in the way this person has done.

I doubt the Takeover panel even fully understands what was/is at stake for the shareholders of these companies and its resitrictive mandate wouldn’t allow it to consider all the circumstance, ie what is the real effect of its decision on shareholders. This all appears great for the small shareholders on the surface but I don’t see it that way. I see it as a break up of something that definitely wasn’t broken and had a long way to run to produce more benefits for shareholders. Hopefully Mr Billis retains control and he can get on with fulfilling the company’s full potential.

In any respect the dividend is fully frank so I personally intend to invest it back into physical gold, especially if the banksters have another run at trying to pull the price down, so whether the gold resides in RND/TBR’s account or my own makes little difference to me. I stayed invested in the compamy because of its strategy of hoarding physical gold and the safety that provided to my investment. Without the gold the company is less attractive to me and becomes a different beast. It now sinks or swims on mine performance at Kundana and how the Ghana asset is managed from here on in. Hopefully Ghana is not lost altogether through the actions of this person. Esh