peak hill results, page-34

mitis i chose not to do anything yet after receiving independant advice to wait for now. The company may yet give a credible explanation as to how these deals benefit GPN. The best time to do that would be at the agm. Anyone can choose to do whatever they want but i will wait for now.

I would like to know what they believe the future holds for GPN and how they determined the value of AUL and Cabe. And what value do they put on the in-situ deposits at Gabinintha and Nowthanna. And how can it be in GPN's interest to have such a large dilution in YRR for what will amount to only 20% interest in all the new leases anyway.

The dilution has a double effect on GPN and YRR

By being given so many shares (130m all up out of about 190m total)the new players now have most of their own land vended into YRR back, plus most of YRR's JORC deposits. And remarkably without paying for it. How can the board justify such deals.

I am hoping to go and put these questions to the board.