re: broker report, page-9

re: broker report GBG just needs to show results. Won't really know until 30 June 2013 quarterly comes out.

Also we need GBG to confirm:

- Final CAPEX figures, ie identifies any blowouts which require more funds..........EQUITY!! Aka another cap raising.

- Final FOREX exposure, was the $250m FOREX loan enough? Maybe not as the dollar rallied.

- Commissioning, confirm that Karara is running at 8mpta by April 2013.

All of these can lead to a rerating of the shareprice, but HUGE risks exist. There budgeted figures show an extremely tight cash position, this scares me, coupled with manager who always underdeliver.