Ann: Quarterly Activities Report , page-6

elze

Thanks for your comments.

CGX is too cheap to sell for what they have, so I will just wait out the next two years, unless there is a rapid rise in the share price in meantime. The returns from CGX should exceed bank interest and CGX has too much cash/liquid assets for it to fall over a cliff.

PRU is also languishing well below its high. In their case I think it is partly due to the proposed changes to the tax laws in Ghana and no go ahead yet for their next mine.

Goldies have become a frustrating sector. I am expecting better in the second half of 2012. There could be even better bargains mid year so it is a good idea to have some cash on hand IMO.

loki