1 share traded, page-7

Vin,

Good summary, thanks.

RER is, as you say, a very risky play in that the company has:

1. a couple of board members resident here in Australia whom I do not trust,

2. a high sovereign risk aspect given the continuing stoush in the Congo,

3. little to no cash of its own, so relying almost entirely on DRC Exp Funding,

4. the usual risks associated in drilling for gold, with the hope that the previous high grade results obtained are replicated or bettered.

As a consequence of the above, I only have a modest amount in this company. However, if the new drilling results confirm equal or better grades than previously, I will definitely be making a decision whether to buy more quickly. (my presumption that we have indeed received the $7M and are drilling ahead as I type)

Clearly, we are not being informed as to the status of the funding from DRC, and as you point out, we will have to wait until the next quarterly.

Given the enormous mineral wealth in the Congo, and the high grade of previous results, I am very optimistic that the new drilling could well turn up trumps. I wait patiently for the next lot of results, and believe that we have the right man running the show in Mr Young with quality experience in the Congo.

Given the ever increasing cost of gold extraction here in Australia (on the news last night), such that many gold producers are finding it increasingly more difficult to remain profitable, I believe a high grade deposit in the Congo with much lower extraction costs would make RER an attractive proposition.

One real concern for me is that much of the $7M may disappear without trace once it is in the RER bank account. Unfortunately, I am not too good with company accounts and thus will not know where the money is, or more to the point where it has gone! Need others with accounting skills to be able to keep tabs on the money trail.

Regarding the UCTL licence dispute with Forbes, I like many others would like to know what has happened, or at least we be provided with an update on the dispute resolution process. The announcement regarding the dispute was made almost six months ago !

The last report from Stanford University looked very promising, with equipment that had some inadequacies. These inadequacies were being addressed as below from the announcement dated 16th May 2012, bottom of page 1:

“Equipment modifications to better
capture the faster than expected conversion of coal are planned and is now expected to be finalized in Q3
2012.”

We are now in qtr 1 2013! What has happened. Not a word from the company. I acknowledge that Mr Young resides in DRC and would not have a very good handle on the status of this project, but surely Mr Edgar can provide some answers, as a matter of courtesy to the shareholders. When I initially bought into the company, it was on the basis of the UCTL technology (as well as others) , the Congo mining has happened subsequently. I am keen on BOTH projects.

Sorry to be so long winded, but just my thoughts on RER matters.

LL