Hard to argue that MRE has significantimplications on value....

Hard to argue that MRE has significantimplications on value.

Easy to get excited by visible gold indrilling program.

Easy to comprehend how border closuresand subsequent lack of skilled labour has delayed MRE report.

Easy to be apprehensive that T/O offerfrom partner precedes MRE and subsequent market revaluation.

Easy to reject offer on that basis alone;and to be encouraged by recent 604 Notices, that infer (to me) the first offer,was not best offer

Hard for NME holder (10 years for me) tobe encouraged to accept current T/O offer purely on the basis of liquidityconcerns, when raising cash is a known prerequisite for these type of companiesuntil well after production.

Easy to grasp that one viable strategyfor NME would be to position itself as a T/O target, however for last 3 years Ihad envisioned more cash and less script from our suitor.

Hard to desire massive Share on Issue T/Oalternative that is trading at such low volumes to allow formal exit.

Easy to desire T/O alternative,including from our MCT partners, offering genuine premium to acquire unrealisedassets.