Ann: Results of AGM, page-2

Hi All,
Attended AGM today and had some of the questions answered.
Mood was positive and Management are positive on all fronts.
A question was asked about a dividend and the response was that they would like to maintain dividends rather than a one off and then go back to shareholders for a capital raise.
It got a little heated and the Chairman had to reinforce the idea of money better used for growing company.
He also stated they regularly talk about dividend policy at meetings.
A buy back was not mentioned.

Mark Zeptner told us they expect to have cash at about $100m by mid 2018
Edna May is going smoothly and in Oct 17 they mined 7427 oz at $1420/oz.
Evolution in Sept 17 was over $1570/oz.
They believe they can bring this down further quickly.
Made approx. $1.6 from Edna May in Oct.
Actual timeframe not mentioned for Edna May although there are details in Managing Director report.
Drilling at Yandan (Qld) before Christmas.
They look at all opportunities and would look at African or South American deals based on risk.
The reason they are looking in USA is again, risk v reward.
Currently small outlay for possible large returns.
The partnership with the Chinese is there for large acquisitions, they were not interested in Edna May, too small.
If something comes up RMS have a partner with plenty of resources.
Shannon seems to have them excited,a new style of deposit and good grade, 4-5 g/t.
Further drilling at Shannons, Morning Star, Black Cat and Paris is underway and results will be released when drilling is completed.