Ann: Annual General Meeting Update, page-5

Hard to say how thing will go, still a lot of ducks to line up even before suspension is lifted and looks like the time table has shifted forwards a month or so.

Assuming the recapitalisation goes forward, it will still take a bit of time to get pay dirt out of Smarts Under ground and then some week to crank up the mill and before gold is available for sale. Can but hope that goes smoothly.

But the challenge is to increase ore reserves, with 89k au oz in the smarts underground now in the probable category there is another 200k au oz in the inferred and indicated category. Getting half of the latter proved up would be a priority IMO.

I'm not upbeat about on exploration at other targets in the near term, simply because they are in early stages and would take time and money to prove up. That is some thing try don't have much of at ATM.

Not much has been said about Hicks Deeps but there are 92k au oz and 94k au oz in the indicated and inferred categories respectively, that again firms up my view that the real potential at Karuoni is under ground. Need to remember that Smarts Under ground is open along strike and at depth so we will see.

Certainly the POG atm will be a big boost for try if it stays at these levels to when they are producing golf again, feasibility on smarts underground was based pog $1700 and with pog about $300 higher that is nothing to sneeze at.

All very well to suggest POG will push try SP up when trading resumes but remember it could be 2-3 months from when the decline is started before try will have gold to sell