Ann: Financing Documentation Finalised for LLGP , page-34

re: Ann: Financing Documentation Finalised fo... Thanks JID

The presentation in October 2009 stated that the $78M NPV figure was based on a $USD900/ounce gold price. The gold price is now around $USD1159. I expect that the hedge will be around the level set recently for ADU at $USD1075. I am not sure what exchange rate was used back then, but in October the exchange rate ranged around 86 to 90 cents AUD/USD. I think the NPV is now higher than the $78m estimated back in October because the gold price has risen substantially.

I have taken a punt and dumped my smallish EVGO holding and bought an equivant number of EVG shares.

I am now looking to see how developments progress with restpect to EVG before I buy more.

loki