announcement, page-25

This is it, agree that there appears to be a turn around from GPN's original statement regarding focusing on Gold however would like you to consider the following and would appreciate your comments.

GPN's JV with MZM is free carried and they already hold the Robinson Range tenaments. Smart move in my opinion cause if they hit paydirt GPN will benefit without providing the expenditure for exploration. They can always continue to explore for AU on the Robinson Range tenaments in the future (not their major focus now as Peak Hill is) or sell off should another U company come a knocking.

YRR now have a geo that has probably the most experience in U in NT. Completed countless exploration programs for NT govt in 70's. GPN own 69% of YRR and you would have to guess they are also obtaining advice from the geo to further their interests in the U field as well. With U prices at record highs, limited supply and huge future demand world wide they would be mad to pass up the opportunity.

I would be surprised if they did not try and secure some U tenaments in NT (which has probably the most chance of mining in the near future) to build a stronger asset base and carry out more JV's on a free carried basis in the near future. Can only be a positive from a shareholder perspective.

I hold GPN, GPNOA, YRR & YRRO and am not ramping only giving my honest opinion.