A few winesin the business class lounge and a bit of a joke,...

A few winesin the business class lounge and a bit of a joke, seems to have attracted a lotmore attention than the first time I did it.

Sitting andcatching up on hot copper posts, means reading possibly a hundred or moreposts. It is wild to see how off people are. Not that this is particularly abad thing. Some people are new or do not follow that closely. Others do… So, ifyou are one of those, whom does not have their ear to the ground. Why act likeyou the oracle and what you want to happen will suddenly occur.

We all wantour grade to be over 1g/t and we all wanted it over a year ago. That is not thesituation we find ourselves in. We have had to deal with many problems. The mobileequipment was not up to standard. Delays in critical parts for plant 1 afterbeing shut down for the better part of a decade. DPIM and Thai bureaucracy.Corporate and site managerial issues. Persistent financial stress and fundingnightmares and significantly a large overburden and unfavourable strip ratio currentlymeans that we not processing adequate higher-grade ore. This is not news. Thishas been known for some time and the company is still ramping up.

The bones ofthis investment are the same. Initially is was fortified by a ThailandAustralian Free Trade Agreement that was clearly broken. From that point on ithas simply been a waiting game. Uncertainly regarding funding and decisions totake an award or negotiate a settlement has resulted in the latter and adilution of the stock and heavy loans to get back to production. Extremely fortunategold prices meant the dilution was limited to one round.

As shareholdersare aware, over 100k ounces PA will be routine and this combined with the goldprice secures the future and a share price that better reflects the value of thecompany.

Uncertainlyremains around the intent regarding NE as the language from JG is sometimescontradictory. In the latest press release, there seemed a hint at KCN developing this in a JV as apposed to a sale or listing. It has also been alluded to that there is a growth strategy not just for reserves and resources at the Chatree complex but further afield. Why spin out NE and then look at another project? Why do this at the top of a cycle. Why even mention it when we are not even through teething problems, settlement, debt repayment, dividend or buyback? Why settle the TAFTA if there is uncertainty with the way the company may be treated after the event? Is the relationship with Thailand poor underneath a great relationship veneer. Why is there no corporate announcement regarding intent around a Thai IPO like there is around something with NE.

There are some decisions that will materially affect the company and share price going into the future. I have no idea what will happen regarding those bigger decisions. I do know that we are close to a period of substantial and continuous news that should create the momentum to make $2 a floor and not a ceiling.

We patiently wait for the financials. A “clean bill of health”, the assets to be written back into the books. A going concern, without material uncertainty. No, funny business hidden in the financials. The very long-awaited buy back the day after the financials are out. JG adding to his modest shareholding. The actual buy back and subsequent daily ASX announcement that we have bought the previous day, every day. Cube consulting furnishing the market with a mine plan, guidance, AISC that the market is able to digest, and a metric and timeframe management are able to be judged by. Cube will also release new resource models for both Chatree and NE regarding the increase in gold and silver prices. An increase is LOM at Chatree is significant and the B and R prospects are looking very exciting, especially that close to the plant. Settlement is the big quandary, surely delayed once again as the company needs significantly move value and an insurance policy from any sneaky business. IPO being the ultimate protection.

All this said, does it really matter is we make 10K, 15K, 20K, this quarter? We are cash flow positive, and we will get to over 100k and it is what they do with this money that is far more important than if we get there 3 months or 6 months later than expected.

USD $4m in exploration, shore up the balance sheet, capital restructure and get a little stronger before we walk out the hospital. Then more capital restructuring and perhaps dividend to keep the other half happy…