Ann: Westgold Lodges Bidders Statement for Aragon, page-15

re: Ann: Westgold Lodges Bidders Statement fo... The comment from WGR that the new merged entity is in for a signficant re-rating pretty much indicates who they think is getting the better deal.

Surely MLX will come into the mix at some stage. Either sale or takeover once development options and financing arrangements are confirmed.

I believe (from memory) the Mining Valuation Handbook 2003 has a sale price for the Big Bell mine of circa $40m in 2007. Same as what WGR are paying now. Add in the other CMGP deposits, a much higher gold price, increased reserves and resources, as well as inflation and tell me who is getting the better deal here. Will be interesting to note if the 'Independent' Expert's report makes mention of this. I bet it doesn't.

JT