Ann: Change in substantial holding and IAF acceptances from GOR, page-6

Reasons why I will be a happy holder of GOR:

1. GOR is already highly leveraged to an improving A$ gold price and this will be more so the case following its acquisition of DGO
2. GOR shares are liquid and trade in volume
3. GOR, with leadership from Goldfields, is running a large efficient gold mining operation at the Gruyere deposit in WA
4. GOR has significant exploration upside in the Yamarna Greenstone Belt
5. GOR is currently significantly cash flow positive
6. GOR will have the capacity to bid for De Grey and execute a complex plant construction and commissioning.