Ann: Notice of General Meeting/Proxy Form, page-17

Hi Nord,

I'm a bit curious about the small size of this SPP and why it comes before the larger raising which will be needed to make up the shortfall in project fumding. The recent funding announcement included a $7 million working capital facility.

I would have much preferred that the company show us their cards in respect of the planned shortfall equity fumding before asking shareholders to accept a price for the SPP.

Personally I'm going to wait for the shenanigans to be sorted out with the outcome of the 5 March meeting (and vote against the requistionists) and wait to see what the next funding package looks like before considering buying any more stock.

The Australian dollar gold price has really bouyed a number of Australian gold stocks, some of which have issued less than spectacular reports of late. I think people should not forget that the gold price and currencies can be volatile, irrespective of outlooks. Only 2.5 months ago the A$ gold price was down below $1,700 in the mid $1,600 range, where it actually spent most of last year. Even though the gold price is strong there is still no excuse IMO for jumping on the weaker stories, both in terms of mine lives and costs. Better sticking with the strong stories IMO. Esh