Shareholders are advised to TAKE NO ACTION in relation to the Sedimentary offer pending receipt of a formal recommendation from the directors of NuStar, which will be contained in the NuStar Target's Statement.
At present 59 percent increase of resources and to the declaration of a mining reserve of 1.20 million tonnes at 10.66 g/t for a contained 412,000 ounces.
Shareholders do not need to act hastily as the offer must remain open until at least early January 2005.
Your Board will ensure that you have ample time to make a decision in relation to the offer, after receiving the NuStar Target's Statement which we expect to send to you in mid December 2004.
NuStar will keep you informed of all further developments concerning the takeover offer as they arise. I enclose a copy of my Chairman's Address given at the Annual General Meeting held on 29 November 2004, which provides an update in relation to Sedimentary's offer and our Company's progress towards the anticipated first gold pour at Paulsens in May 2005.
NMC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
