quarterly report 4qfy11, page-4

Hi Guys

I am in the UK at present and the gold price in my time zone is looking beautiful at present and we are just $5.00 short of Uncle Jim Sinclair s long scoffed at target of $1,650.00.

Now all we need is for the world to pick up on the fact that our politicians and reserve bank officials are no smarter than those in the US or Europe and we can see an adjustment in the Australian dollar. Give our exporters at least a chance of survival.

7PM UK Ref: Kitco 1,645.00 Per Oz.


With the AUD Gold price now over $1,500.00 we may at last start to see a re-rating of some of the better positioned gold producing companies.

The gold bug road has not been an easy one these last few years however gentlemen it has been an honour to stand fast with you all and in about an hour I shall raise my glass of warm beer in a toast to us all as we approach our time in the golden sunshine.

Cheers: Andy