Ann: June 2016 - Quarterly Report & Appendix 5B-MNC.AX, page-2

I have to say, there is some movement at the station-
1-Settlement of Mollacas, unexpected now, but finally they have decided to sort it out - I am guessing reached a financial settlement (should have done this ages ago).
2-Los Calatos $45 million investment - i know people want more details here, but for mine it is pretty straight forward. $45 million invested for a feasibility study. The relevant information will come out as the works progress. This is great news in the current environment.
3-They have been smart in an underground only operation for Colombia. This will enable a lot simpler social and environmental permitting process. This is a hugs tick, as most don't understand the Colombian issues - obviously they have learnt from others. This will also require a lower capital cost upfront and a 1,300tpd plant is virtually off the shelf, so no risk there. Given the costs shown so far for this project, pulling out 50,000oz per annum will be a good profitable project. Obviously a little more detail required re the mine, but once again the proposed methodology is not reinventing the wheel!

Although, the share price may not rise straight away on these announcements, they have ticked a lot of boxes. Some may say too late, but better late than never.

I think they BOD actually deserve a little credit here.....and yes I realise how much the share price has plummeted, I too was in at a lot higher prices and am sharing others pain.

Baby steps to recovery unfortunately, but definitely heading in the right direction.

AIMHO, GLTA .