Ann: September 2012 Quarterly Report , page-5

Tks for observations, you invited comments.
I spoke with Les on Fri.19Oct.He is very positive about SLR and the merged SLR going forward. Merging the Cos. will produce real synergies of around $45m.p.a. The merger admin. process is slightly behind but still expected to be finalised during December.
Integration planning is going well and has the co-operation of IGR. [I am also a s/h of IGR]. The 2 Cos. are both low cost producers and this will be enhanced by the merger.
Consolidated guidance for 2012/13 remains 220-250koz.
Murchison mill will be commissioned in Dec. Hollandaire, Colonel and Mt. Eelya drill results are due in 4 - 6 weeks time.
qed