how to use the $750mill, page-20

Hi asf,

OZL qtly is due 24th Jan. From my understanding, the production and C1 cash cost guidance for 2013 will be released then.

The issue for all of us is that we don't know what we don't know. OZL and RXM could be having discussions about a JV as we speak or they could not. OZL could be planning a t/o of RXM and is waiting for a lawyers to finish all the paperwork.

You are correct asf, an RXM reserve statement will again de-risk the the Hillside project a little. Your last sentence in your last post is IMO, quite true. I am not sure that I agree that there is some t/o premium in RXM's sp. For the size of the resource and project - RXM seem really really cheap.

HT1

P.S. appreciate your comments, even though you are a non holder.