a bright future....

Spoke to the MD yesterday.

ITOCHU deal EGM will more than likely happen mid August. It is a deal that has been more than 9 months in the making and secures a good future for AGS. It is premised on a win in the M&DC case, so I guess the level of confidence is high to proceed down this path.

Relations with the JV Partner are still poor, and H/Q don't appear to have moved on the processing costs. Should H/Q proceed with Mining (and they could at anytime) AGS will have to wear the excessive costs until a resolution to the M&DC case. As we have no news on future Mining, I suspect this is a reflection of H/Q confidence, and their reluctance to invest imo. The prize is BIG, so its worth H/Q having a go, but AGS is equally determined (IMO). AGS is all cashed-up so its just a matter of time.

This will more than likely go to Trial, so I do not expect any surprise withdrawal / settlement from H/Q. Timing of the Trial is in the hands of the Lawyers, maybe up to 12 months away going on previous deliberations by J.Mansfield.

There appears to be no intention of moving the 4 Mile asset out of AGS/ACE or dilution as was suggested on HC.

I remain confident that AGS is a great / ethical company working in our interests, with a more than competent Board. Considering they participated in the CR at over .60c to fight this M&DC case is very reassuring.

Management is equally as frustrated as the Shareholders with all the gaging orders placed on it by its JV Partners.

Sorry if the above is nothing new, but I was very happy with the conversation.