With KDR, we SH would have got nothing; likewise KBLGA...

With KDR, we SH would have got nothing; likewise KBLGA noteholders. KDR would have got a mine to treat their close by deposit and paid peanuts. The only way they could get any value from the deposit.

Capri ceased to be the white knight and it was expensive for KBL SH. KBL still exists for which I, as a SH, thank management. I was suspect when Capri came on board; had the leopard changed its spots; time told.

At least we now have a COO based at Mineral Hill. He will have a better idea of what is happening at the mine than someone based in Sydney.

The COO becomes an onsite mine manager. Good idea. Could they have thought of this sooner.

Today we may see how much better off we are than if KDR succeeded.

GLTASH