Ann: December 2011 Quarterly Report , page-3

HI Gazzat,

Moving all 3 rigs to Sihayo is a good move imo. Complete the infill and move the Jorc from inferred to indicated. Get this completed and hence updated Jorc in April with DFS finished in March, looking forward to seeing the outcome of the biomass power conclusion. Looking forward to moving into production 2013.

Then move to HJ & Tambang to focus on the higher grade veins for a bit more bang.

Forecast expenditure on exploartion for this quarter is $4.6m, with a cash balance of $6.6m we're going to need some more coin later in the year.

I would like to see them release reasults as they come though rather than hiding away in the quarterly. There was nothing spectaculor but some nice hits here and there.