Ann: Asia Mining Congress Presentation, page-5

In five years the previous board couldnt even put together a functional website . This Board has achieved twice as much in half the time and the figures and projections demonstrate this.

GMC Smelter projections : EBITDA of US$623.8 million, NPV of US$201.4 million, IRR of 45.6% and a two-year payback period. Start-up capital is expected to be US$67.5 million over four years.