Ann: Becoming a substantial holder Tolga Kumova, page-36

Interesting point as well is that the became a substantial holder on the 14th May or 5 days ago and before the announcement of the 1 for 1 raise / placement a per the notice. In addition his 5.29% declared interest is therefore based on the previous total of shares on issue of 247,253,716 ...... and so do not include the 139,318,182 of the proposed new shares to be issued under the proposed issue.

The other interesting ' relationship ' with the numbers .....and I do love numbers is that the 3 cent options are ALREADY in the money just like that . And so the combined total of 69,659,091 3 cents options together with the 139,318,182 of new shares equals 208,977,273 potential shares on issue ......with of course a further amount of funds raised from the options of $2,089,772 ......

And finally if ALL shares under the proposed issue were to be taken up by just the one holder in Tolga Kumova ....plus the options . He would be sitting on 222,064,000 or 48.67 % of the total 456,230,989 on issue. Now some may not believe this possible .....and it wouldn't be without a TO offer being launched and approved . But what's to stop anyone of the Top 3 doing the exact same thing.

Especially Evolution mining....... And just as Ramelieus Resources ( (RMS ) took out Spectrum Metals ( SPX ) this year at an incredible premium .....and virtually operate in the same area as RGL's ' expanded ' tenements - it is because of these facts that I do believe we are in PLAY.......