Ann: Annual Report to shareholders, page-7

Good progress has now been made on finding a settlement of open issues and RTG continues to be in discussions
with the various parties in an effort to reach an equitable resolution to these issues so that the Mabilo Project can
successfully move forward.
All Central Office permitting for Stage 1, the Direct Shipping Operation has been completed, including a Mineral
Production Sharing Agreement (Mining Permit) (“MPSA”), and Environmental Compliance Certificate.
The Mines and Geosciences Bureau (“MGB”) remains very supportive of the project, having named it as one of the
priority projects for the Philippines.
Mt. Labo currently has loans owing to RTG in the order of US$26M (A$38M), together with interest and a
Rehabilitation Order has been issued by the Courts to address the repayment of all creditors.