Ann: Investor Presentation, page-7

TT

I've taken up additional shares as I see it as an opportunity to reduce my average buy price which is still way under water having been a share holder for 10 years.

However, I don't share your optimism of a share price of 2c shortly after the cap raise is finalised - I fear Patersons will be left with a substantial number of shares which will be dumped as per their usual practice.

I hope this doesn't happen as I have a reasonable amount invested - time will tell.

Hopefully we progress to a 2.5m+ ounce resource and find a buyer in due course - I don't see GMR as becoming a gold miner.....