Ann: Quarterly Activities Report , page-25

Yes Datz, i still hold as a top 20, although its a frail hold at this point.... 45k loss on options and a further 100k paper loss requires me to sit tight like a hen on an egg hoping it wont break....

spoke at length with Richard last week....whats going on is nothing like what is being said eg.osb (fantasy)....yet understandable....

They clearly have been having a lot of problems with contractors resulting in the position they are in being way outside of their control, and in fact they are investigating closely a lot of contractor data and misinformation, Richard clearly was not expecting to be where they are up to and is working hard on getting some unanswered questions resolved with certain contractors....

they must await economic deliverability report before proceeding - they have a two progonged approach as in the reports of late; 1)production pending report and 2) further exploration opportunities eg leadville....

further they believe HC to be a load of rubbish and they have no interest in it so sorry to dissappoint any here....and i agree,its only for debate and thats it....

lastly i had discussions aroung the possible development of a top 20 shareholder support/advisory group for GDN.... for my considerations only....

My greatest mistake = W123, say no more....

heres the current top 20 , some changes as youll see from last year late but nothing major:


GOLDEN STATE RESOURCES LIMITED ORDINARY FULLY PAID SHARES As of 04 Feb 2011
Top Holders Snapshot - Grouped Composition : ORD
Rank Name Address Units % of Units
1. AUCTOR GROUP PTY LTD 6,000,000 1.06
2. MR PHILIPPE DUCHEIX 5,650,000 1.00
3. MR WAYNE FREDERICK VINEY 5,300,000 0.93
4. MR ROGER SCOTT ALTER 5,160,000 0.91
5. MR ANTHONY JAMES ELLIS 5,000,000 0.88
6. CITICORP NOMINEES PTY LIMITED 4,202,954 0.74
7. MR DAVID ALEXANDER KYLE 4,100,000 0.72
8. MISS XIAOXIAO SUN 4,000,000 0.70
9. MS LIJUAN GUO 3,500,000 0.62
10. MR FRIEND NOTHERS 3,480,000 0.61
11. MR DAVID WILLIAM NICHOLSON 3,240,000 0.57
12. MR ERWIN ALBERT LUZ + MRS PAULINE JOAN LUZ 3,034,820 0.53
13. DESGAIL PTY LTD 3,001,000 0.53
14. GERENDASI HOLDINGS PTY LTD 3,000,000 0.53
15. MR STEPHEN NEIL GRIGGS 2,800,000 0.49
16. MRS ILONA MARGARET MONTEFORTE 2,500,000 0.44
17. MR PAUL RAMSAY + MRS TERREL JEAN RAMSAY

2,500,000 0.44
18. MRS FAHMIDA SAIFULLAH 2,500,000 0.44
19. MR WEI WANG + MRS XIAO QING GU 2,500,000 0.44
20. MR MARK RUSCONI 2,425,575 0.43
Totals: Top 20 holders of ORDINARY FULLY PAID SHARES 73,894,349 13.02
Total Remaining Holders Balance 493,658,722 86.98