article - comments by kelly & strange's lawyer, page-34

Hi lee,
Except that they drilled form roughly two months at newcrest for $500k gross. From which after taking of labour and consumables etc there wouldn't be much if anything left. In comparison two months at a dry hire rate of $10k per day would be somewhere around $600k net.

The guarantee conditions demanded by Ckk seem very onerous and those offered by warren based on the asx announcement insufficient.

Sure, if ckk had managed to drill successfully at newcrest that would have helped set them up as a drilling services company, but when it failed perhaps negotiations should have been restarted - would have been in the best interests of shareholders in my view.

Jazz