Ann: Preliminary Haul Route Defined at Ntiola , page-4

Depends what MC we end up with by 2015 Apatyl and debt/JV options - SO MANY BOXES TO TICK AS WE START TALKING PRODUCTION. BUT WE ARE TALKING PRODUCTION!!!

AP - "So all up approx. $5.3M for road and trucks" for the haul road. Say 5.5M-7M due to increase labour costs (+ variations). Not sure if Randgold have some spare graders & dozers we can hire.

10% CR at end of month/in December = 0.019 or 0.028 prem. will give us $2m-$4m for more drilling.

Mine development open pit costs??? Who knows until we know what tYPE of open cut strategy..

I think a JV is on the cards here BIG TIME. Like all the other mines in MALI!! OTHERWISE we will become diluted to the sum of ~2-3b+ shares on issue easily.