Conference call 3Q2018, page-6

will have ~AU$500M in the bank by the end of the year with no debt..."management & board are seriously considering capital management initiatives to reward long term shareholders". At current prices, over half of the MC will be cash!!!

SDV JV looking to have project fully funded and should take 2.5/3 years to complete starting next year. We will know who the JV partner is and what the deal looks like before the end of the year.

Notwithstanding any catastrophic announcement, downside risk from here is limited and I see a buck/buck fifty upside by the end of the year...pls welcome a new shareholder!!