agm

Not a thorough blurb by any means and not too much that we didnt already know, but here are some of the things I noted:-

1) Top 20 hold around 80% of shares with strong representation from Hong Kong,Singapore,Malaysia and Australia. Some North American interest from the last raising, I'm assuming through Ms Xi Xi who is New York based.

2) "Assuonta" prospecting licence(page 14 of presentation) initial soil geochemistry testing has shown it to be the same as Bibiani, and therefore an exciting area for future exploration.

3) Only 10% of the anticipated drilling on the west wall of Bibiani main pit has been done up until now, so a long way to go there.

4) "Big Mug" mining is allowed as it has fallen inside the EPA that was granted for the satellite deposits. It is included to date in the resource, but not in the reserve.

5) North of Big Mug there has been very little drilling in the past, so some obvious exploration will target there.

6) "Elizabeth" looks a lot like Walsh/Strauss but this is still yet to be confirmed.

7) "South Hill/Russell" will get lots of drilling if its proven to be viable. If these areas are to be developed the town/hospital/some accomodation will need to be relocated, and a major highway will need to be deviated around the area at Nobles cost(Not a huge issue as has been done many times before).

8) Wayne 'thinks' that the tailings will provide better grades than what have been stated.

9) Its expected to be around 2-3 weeks before ore starts being fed into the plant.

10) Walsh/Strauss look like they may be connected, however this deeper intersection will more than likely need to be mined via underground, as the waste costs would just be too high to access via open cut. Around 8000m more drilling is required here!!!!!!

11) There was a slide put up but its not on the still slides(? part of slide 13) that shows an underground portal that had been started by Central African Gold Ghana and heads southwest from strauss, towards the Bibiani main pit. They may be able to use part of this portal to head off east and downwards to the strauss/walsh underground section.

12) Drilling is going 24hours,6 days a week and they are spending about $1.5 million a month on exploration.

13) Wayne received an email overnight saying the lab is expected to start processing 6/7th Dec.

14) The mill is 92-93% complete and has cost around $26million so far.

15) Main focus is on Bibiani and really ramping that up, so there wont be much exploration focused on Cape Three Points or Brotet in forseeable future.

16) Rise in tax is on the agenda - NOT APPROVED yet. Still has to be passed by parliament, with them being mindful that it will cost jobs....

17) Holdups with customs and strikes in South Africa have not helped with getting things done within forecast times. This has been the major issue to account for delays in startup.

18) Peter........ spent 2 years commissioning 'Chirano'
and is involved with NMG now(sorry cant remember his full name)

Thats about it for now I think. Hope you haven't all fallen asleep and that it provides a little something for you.



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