Huge,Thanks for that. I will listen to the webcast later.Some...

Huge,
Thanks for that. I will listen to the webcast later.

Some comments

1. My model is indicating free cash flow of approx $AUD 334m for the 6 month or a bit over 10.7cps. Supports my thinking of either a 5cps dividend or a share buyback or both to be announced at the AGM. The only thing holding back this capital management is SFR or Carrapateena purchase. (Although I think they have the cash to do all 4 with still enough left over to develop the assets.)

2. The discipline around SFR is impressive. It gives me real confidence that they are running the business for the benefit of the shareholders, rather than to appease analysts.

3. Interesting comments on Cambodia. I would not be surprised if they got it to a good point and then sold it. (High Gold price) and use the money to develop a copper/Gold resource. I could be wrong on this one - but if OZL has a few things go it's way, SFR, Carrapateena, another P Hill nearby or Mexico, then it may consider the Gold in Cambodia to be non core and divest it so that they can concentrate on core activities.

HT1