Ann: Trading Halt, page-26

Hey KL.

Technically they could offer retail a piece of the action so to speak, whether it be a SPP or perhaps a rights issue. My gut feeling though suggests the SP had a lid on it to suit an insto and I’ll be very surprised if retail will get a look in. The AGM resolutions that were passed a few weeks ago, as we all know has given the company the ability to issue up to 25% of our listed shares to placement holders. Whether they do this in one hit and to only one insto is my big question. Alternatively, the CR could be directed to more than one insto and perhaps only have part of the 25% allocation issued this time round. Who knows.

Ultimately, more money, more opportunities, more rigs and hopefully more gold. Dilution is the obvious winge people will have, but to me this is a small price to pay for long term security and hopefully SP appreciation. All IMO of course, each to their own.

M8