Ann: Quarterly Activites Report-CGM.AX, page-2

Quarterly drilling business revenue up by 100% from previous quarter and the best quarterly revenue performance for the drilling business since the quarter ended 30th june 2014. With mining confidence picking up especially in the gold sector Brazil is the perfect place to take advantage of the ramp up in drilling services required. Should see CGM drilling business revenue increase well now through next quarters. Any news that flows on the suspension of works on the Canadian exploration project lifted with KPM complying with the arbitration orders should see CGY start on a re rate. Also payment of moneys owed of US$ 1.2 mill by Tauari Holdings Ltda for Brazil mining assets sold or news on the Pyke Hill nickel/cobalt assets should see a swift turnaround here. With drilling revenue increasing rapidly now and with potential for news on a number of fronts on other assets and moneys owed this has significant room to multibag with a tight register. I believe they are also looking at other possible acquisitions with an eye back in Brazil with drill rigs they can utilise in explorations works. This could be a beauty once back in favor with the market.