re: Menzies gold to gmcg, page-11

re: when to enter Hi Perthsnooper,

Check ROC announcement of 7 February, where they state (5th bullet point):

"The multi-well work programme referred to above is expected to cost in excess of $30 million, including coring and testing programmes, split approximately two thirds-one third between the WA 286P and TP/15 joint ventures"

Which means WA286P costs are $20m - NWE 5% = $1m, and TP/15 costs are $10m - NWE 20% = $2m. Both of these costs appear to be minimums.

Coaster