tembang - tandai / update

Finally spoke with Richard (CFO) regarding SUM moving forward.

Keys points:

* Tembang is now scheduled to commence early 2013.

* Half yearly report which we expect to release to the market on the 13th gives detail on the staged production program planned.

* With results from the Tandai project with Sumatra as we are now the minority partner in the JV with Newcrest unfortunately we have to fall into line with their reporting schedule for the project. That is to report on a quarterly basis so the next lot of results will be in the September quarterly activities report released in October. We are looking to move the timing of quarterly reports forward because of this from the end to the middle of the month following the end of a quarter.

* re a presentation Sumatra?s CEO is going to be on the road next week meeting with brokers and investors in which he will be giving an updated presentation, a copy of which we will release to the market.


Plenty of news flow to come. CR today was to shore up the balance sheet and move into feasibility stage. With the project manager with vast experience with both NCM and the model which i believe we are head KRM - This is very welcome news.