Ann: Quarterly Activities Report, page-19

Hi All,

Just got a chance to fully focus on today’s announcement .... its great to be back discussing operational performance rather than focusing on the other distraction of late. I bought more at 28c ... seems ridiculous the selling, no genuine investor would be selling at these prices so probably a CR recipient cashing out at a loss ... what a shame.

Thanks for all number crunching, saved a bit of time. One thing to add, last qtr they had gold on hand of 826oz.

826 + 21319 poured - 21260 sold = 885 oz x $ 2575 oz = $ 2.27 m more to add in.

Extremely good production, given Dalgaranga grades probably can’t expect much more and maybe hard to replicate ongoing qtr on qtr, the next focus imo has to be mining some of these discreet shallow low strip deposits to reduce trucking tonnes and vertical haulage distance compared to Gilbeys ... less trucks, less fuel burn to lower costs in this higher cost environment.

Good to see the SP go up not down .