Recent Gold M&A in Australia - Big Premiums on Acquisitions, page-133

Hi Hilge,

I'm certainly not bagging our management choices, although i might do some of the communication with shareholders differently.

Our presentations are very very boring and the same over and over,

Shaun is a great communicator and terrific at painting a picture, each interview is very very different in the wording.

Now his words and ideas are being backed by a major and a board with a huge rep.

Shaun has consistently said that he wants to build a multi asset, multi billion mining camp using their 30% of Havieron as the platform base.

I think his on his way in doing that, and i can only see that AZY has to be part of that in some manner.

The NCM / GGP relationship has been frayed, GGP will drive their own path to success, not relying on NCM at all, you can see that happening with this new board, they have a plan, i just will be the last to know about it.

Be good if our management could talk to us in a similar manner as this.

(about 12 days ago)

Now don't think i'm promoting GGP in any manner, but GGP will have a great influence on our valuation, as will Rio with Winu at some point.

I do like listening to projects around us, i think it makes the prize all that much more valuable in the end.