total cash cost c2 per baske oz, page-8

Researcher

Re the Bengwenyama case.

1. Ian Shapiro is off the case. He has changed employment.

2. The Tribe hope to have the appeal listed for Aug/Sept timeframe.

3. The dispute has not gone away.

4 Past and future judgements will impact how much NKP will need to pay Intern Gold for the 10%.

5. Payment to Intern Gold of $50-40m is due on June 30th 2012.

Cheers