Communication Breakdown, page-11

Peter Alexander was a board member, I don't think he would have anything to do with the resource/reserve statement (he isn't mentioned in the previous one).

Communication has been poor with this company for all of the 8 years I have been in and out. The lack of a conference call is glaring when every other gold company of this size does one now. I think in the last few years maybe they were cut some slack as they delivered results and cashflow and the share price increased.

It's almost a situation where an activist investor is needed to give them a kick up the arse and shake up the board and strategy. Doesn't seem to happen much in Australia though vs the US.

I actually think they've done the right thing by not doing big takeovers and keeping the cash pile, jsut would like a bit more transparency. There was some mention I recall in comms in the last few years of looking at offshore opportunities. Hopefully they are careful in this regard because SBM, NST and EVN have all made questionable deals in North America. There was a small investment in West Africa in Sarama (Burkina Faso) as well which was interesting as perhaps indicates they are not confined to 'tier one' jurisdictions.