Hi Guys, Just settled back in after a few days in sunny Perth....

Hi Guys,

Just settled back in after a few days in sunny Perth. Nice part of the world for those who have never been.

The AGM went quite well IMO. Around 11 guys including myself showed up and some really good questions were put to Jordan after all the formalities were out of the way.

Jordan was also kind enough to hang around after the AGM to answer any further questions anyone might have had.

In Summary and from memory here are some of the comments at the AGM.

Obviously the first topic brought up was regarding the announcement that morning about the great results at Khadzhikongan. Jordan was elated that the RC drill holes came in as or better than expected in some cases. I sensed that we can expect plenty more from this prospect and we may even have a commercial operation just out of Khadzhikongan with the results we are getting or about to get IMO.

Lets also not forget this is just one of possibly a dozen prospects and more that GTE are working towards. All we need are 2 or 3 of similar results to Khadzhikongan and we have a high profit 10 year operation on our hands. In reality and IMO we will have way more than this in time!!

Jordan was then asked about the selling in the stock at a time when we are getting the best news GTE has had since the news of our JV in Kaz. Jordan had to be careful of what he said on this topic. He did mention we had a disgruntled ex chairman who had a few shares and was known to dump on days where news was out. He was angered though that this could also have occurred on the Monday before the announcement dated the 14th of November. This unfortunately gave false indication that maybe the results were not as good as they should have been and could have led to others selling on the days thereafter. The results were and still are company re-rating results if you ask me!!!

Another point he brought up is the junior resource sector is tough at the moment. Some funds/brokers are opting to go with Biotech or Technology plays and are for now steering away from companies in the junior space. He did say this will change again in time and GTE will be in a very good position to make up for some lost ground quick time.

Another question was regarding the potential of another capital raising early next year to keep GTE drilling throughout 2014. Jordan agreed that this would always be the case. He said he was hopeful the share price would be at much higher levels than it is now when its required so dilution was at a minimum. He also did mention they are in early discussions with potential cornerstone investors that are not in Australia but over in Kaz and the likes. So he said plenty of options for when its required. IMO we will need a CR around next March or April so we should have a few more results out before then and should they be as expected and consistent with current results we should have the SP closer to 20c in a hurry and maybe more by then.

The market cannot keep ignoring GTE if these good grades keep coming in. You will get the bargain hunters out soon that can lift GTE from 11c to 20c in a few weeks. IMO 20c is still a great buy as we speak.

Jordan mentioned we are getting close to the end of the drilling season as the cold and snow sets in. Drilling is expected to pick up again next March or April depending on the conditions. This does not mean GTE will be in cruise mode until then. We should see plenty of news between now and the new drilling season with further results expected.

GTE is in the best position it has ever been in IMO. Even with our JV partners GTE is basically getting everything they want now Jordan said. Jordan and the team have proven themselves and this should give our JV partner plenty of comfort.

Although the sentiment in this sector is now a little clouded I continue to buy GTE at these levels. I'm not thinking short term and have built a solid position and will continue on doing so. I can see where GTE is headed and talking to Jordan after the AGM also helped me confirm my thoughts.

I hope this AGM summary has been helpful.

But as always please do your own research.