change of approach from the board

Hi Guys,

I rarely quote conversations I have with directors but given that Jon has given me permission to do so I am pleased to share this with you. First was my email to him, the 2nd was his reply
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Jon,

Thanks again for taking the time to get back to me..

I think this announcement has shocked a lot of holders who thought we were a self finding mob..

I'm hearing other holders saying pattersons, which despite buying and supporting is is still an institution who want to make money.. The pxgos is still fresh in my mind and I'd hate to see us suffer a SP depreciation.


I guess I just want to see a full explanation regarding our change of approach, and whilst I don't have a problem with speeding things up, it's just shocked a lot of us..
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Quite a quick Board decision. We could comfortably self fund another drill program like last year but wouldn’t be able to do the drill metres into Castle Hill and Broads Dam to really do them justice and do the BFS at the same time.

We want to get beyond 4m oz as fast as possible, build a large reserve and move to production to leverage off the strong gold price.

I don’t know too many people who don’t want to make money, more investment means more drilling, more results, more resources and quicker development to production.

Tomorrow’s note will have more detail.
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Hope this is useful to others.

Cheers