Ann: June Quarter 2010 Activities Report , page-2

Hi Folks,

Haven't found any great surprises in the report.

Some new diagrams for Phonsavan, obvious progress there, but not a lot else to write home about imho. Production and costs tracking well despite the lower grades and the end of heap leach gold. Project debt now under USD 10 mm, and net cash USD 40mm. Some additional forward hedging, largely via puts though.

As I read it, just good steady mining, incremental exploration progress, and cautious financial management.

Patience, patience, patience.

EL