Ann: CEO's Presentation to Shareholders, page-2

NAGsters, today I attended the NAG AGM in Melbourne and am very glad I did.

The meeting commenced with Mike Trumbull presenting his Chairman's Report, followed by the procedural matters dealing with passing of resolutions. The meeting was then closed and James Earle went through his CEO's presentation on the big screen.

Without wishing to take anything away from Mike's address, the majority of time taken at the meeting focused on James's presentation which was effectively an operational review detailing 2018 progress, and "where we go from here".

Suffice to say that the meeting was extremely positive, there were no "negative Nellies" in attendance, and the choc biscuits were great (according to Mike!!).

There were quite a few good questions digging down to more detail on James's presentation and the resulting discussion including significant input from Mike really helped to "flesh out" the guts of the info. Some of my take-away's were:

Gold
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The drilling to date, plus the recently-released 3D modelling of the Nagambie West target, gives great confidence to the belief that this target could well produce a significant "Fosterville-style" discovery (I'm being deliberately conservative here!!).

I don't think many shareholders are aware that the 3D modelling was around a $100K exercise and nothing like that has been done to that extent on any other Vic gold area. That's where a lot of the confidence comes from, and other major players have taken notice and appear to be taking actions that back up this belief.

The drill trace diagram of the just-completed hole NND001 (page 15) should get everyone excited! It shows significant quartz content logged where it intersected with the identified thrust-related faults (my non-geo interpretation of this is that it shows where assays should identify some of the "goodies" we're looking for) - watch out for these assay results in December, I think we could be in for a great Christmas present!!

The next hole (NND002) was started today and is 200m west of NND001. I'm taking part in a site tour tomorrow so should be able to see it live and everything seems to be saying that the next 2 holes could well be "company-makers" for good old NAG.

PASS
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While there have been delays in the MMRT project (they still don't have an enterprise agreement in place for the project) the general belief is that the boring machines will arrive early in 2019, and after a couple of months of setup/testing we should see drilling out of PASS happening by mid-year.

Lime treatment of PASS is believed to be relatively uneconomic and NAG appears to have the only large-scale capacity for treating PASS via underwater disposal.

There is no change here to the time-lines we have known about for some time now.

Interestingly, it has now been publicly stated that NAG have been in discussion with a number of parties involved in spoil handling for the MMRT project. Imagine the efficiencies that can come from PASS being trucked out to Nagambie for disposal in our pits, and then construction materials going back as a backload.

SAND
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There will be a significant shortage of sand for concrete manufacture in Victoria as the infrastructure boom kicks off and progress is well advanced for NAG to gain the necessary approvals to mine the very significant deposits of good quality sand that we have. I believe that the timing of commencement of our sand quarry could dovetail perfectly with the MMRT PASS handling.

QUARRY PRODUCTS
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Everything is progressing as planned and after tomorrow's site visit I think I'll be in a better position to advise on this area.

Now it's time for dinner!!