how far from the suface is the gold, page-9

Hi SSkim,

Goldfields definately can make a hostile bid if they take the whole company. The agreement is that they have to drill up so many meters over a three year period to earn 51% of the JV ground.

However if they find anything special they will be looking at taking out CQT so they get 100% of the JV ground and 100% of the exclusive area. It comes down to economics. At the moment they could take out CQT for around $200 million if they got the company for about 70c a share. They know that they have + $2 billion in the known area already.

So the longer the share price stays down at these levels the better it is for GF's. They get to further derisk the project. If the share price was to run then you might see them accelerate their bid. That is what i can not understand why management do not seem to concerned with share price. It does not make sense.