Ann: Company Interview - KGL Strong Cash To Fund , page-17

re: Ann: Company Interview - KGL Strong Cash ... From the 19/6/13 ann

"? Drilling planned to commence Aug 2013
? Targeting a significant increase in Resource
? Resource update targeted for Dec 2013
? Further exploration drilling to test high priority targets
? Scoping study of oxide copper resource
? Complete Pre-Feasibility Study Jan 2014
? Definitive Feasibility Study"

Obviously, we started a month late, but I believe we are still on target for a December update.

Results from the lab will take about two weeks and drilling will be throughout 2013-14. We might get the ocasional update. But the one they have promised is Dec.

After the Dec update, we then get PFS in Jan. Then they commence DFS in FEB, meanwhile they continue to drill.

The DOCA says we get the first $3mil if we sell Murchison this year and the rest goes to creditors. Obviously if we sell it next year we are meant to keep all the proceeds. but $10mil seems high. WE paid $14mil for the entire Jinka assets. We have now stripped Jervois from it. Gold has fallen and the project is marginal.

But sentiment is very low for KGL and that will hold the sp back in the short term.