quiet, page-3

Dunnycan, I've only been in ALD for about 15 months and my research was mainly around what was happening at that time so I'm only vaguely aware of events 3 years ago. I took the view that they were going to do what they turned out to have done and still think they will mostly fulfill their stated aims. You obviously were disappointed, along with others, that progress was too slow for your investment needs. The market was a different place 3 years ago and really marked the beginning of the near end of risk taking. Risk taking has gone out of fashion, especially in mining. Miners today have to be in production to achieve much backing and ALD is in that place.

On 30th June ALD moved to the big board in London and at the same time replaced existing shares on a one for six basis for all investors. Naturally the SP was adjusted upwards by about 6 times. Your 80c share would therefore be priced at A$4.80, a premium to today's price. So on that basis, if you also sold at 80c, you got a good price. Whether that will remain the case is debatable as, with a high and maybe rising gold price and the ramping up of production, ALD is thought by many to offer a great investment opportunity. I personally think we will see that A$4.80 exceeded at some point in the near to medium future. The management are certainly not sitting on their hands and, as far as I can see,have done all they said they would. They have ambitious plans in both the exploitation of existing resources and in acquisitions.

I am not giving you any advice here apart from having a fresh look at ALD and forget that 80c price. Do some research and make your own mind up. Its your money.