Ann: Africa Down Under Investor Presentation , page-2

Good presentation at ADU, well received by technical people and the investors, lets hope it shows in the SP.

So it looks like they will comfortably have their 400 k oxide ounces, plus another 1 m ozs, which will see the camp grow to near 5 m ozs ( on its way to 10+ m ozs?).

Interesting to see the use of exploration targets, and some of these look like they will produce a lot more ounces. Personally I like this approach, a lot more articulate compared to "50 km long geochem anomaly"

Also excellent to see work on the heap leach potential being done. Why did it take so long to do the obvious? There are several mineralised intrusives now that they have got good gold mineralisation out of, and they could be heading for 1+ m ounces of heap leach material alone, which is a very interesting number. Should be a good compliment to the other ounces they have already defined.

Good to see the pit outlines continuing to go deeper, and one wonders whether is a solid shoot position say under Konkera North (plenty of room to fit a Papillion shoot under the pit here). But chasing shoots is for another day (its oxide ounces today), but no one would be surprised that there would be one or more shoots somewhere at Konkera.

Also good to see the disclosure on cost management. Why so long to say the obvious again? $450k for a MD of a non producing Junior is not good in this climate. Mngt still looks top heavy. Lot of good experienced Geos driving taxis in Perth now.

Sounds like a solid exploration team of 20,000 experienced and hardened and lets also add focused artisinals across the border in Cote D Voire. The right structures do indeed cross the country border.


Good luck all!