Ann: Pacer and Silver Lake Resources Settle Dispu, page-13

re: Ann: RDG: Pacer and Silver Lake Resources... Settlement in May 2013 means just that. I have no expectation that any delayed payment terms are part of the deal.It is disappointing that SLR stated there was a legitimate dispute of $20m and did not claw any of those funds back. I was expecting at least $5m to result from a legitimate contractual dispute. On a positive note it appears that Murchison capex is set in stone so no further surprises are in store.

Expectations for the Qtr could be something like:

Cashflow Mt Monger- $12m
Cashflow Murchison- (4m)
Pacer- (20m)

Negative cashflow - $12m

With gold being steady above AUD$1,400/ounce with Murchison becoming cashflow postive in the Sept 2013 Qtr the company should be repaying debt.

SLR does have some work to regain credibility.