Ann: Quarterly Report to 31 December 2014, page-24

Robworld and Paul, thanks for the first-hand feedback from the meeting.

I was wondering if there was any discussion in regards to the upcoming $5 million repayment of the Mac Bank loan due 31st of March? (I realise that refinancing option etc is all part of the plan, but I also wonder, if, the plant is really starting to hit its stride, would PGI be better off having a full quarter of production, with - as per the quarterly, approx U.S $5 million profit being generated). This profit, plus the current cash position of U.S $2.5 million in cash, plus approx U.S $2.54 million in gold (at U.S $1200), would mean PGI should have more than enough to pay the repayment, which would in turn allow them to have time to see if the upcoming agitator upgrade does indeed increase recoveries and also hopefully allow for the share price to increase and in turn, reduce dilution for the proposed capital raising?

Sorry, that's a little long winded.