Ann: AGM Chairman's address and Presentation, page-7

Hi nordesmic, yes I did attend the Agm and I felt very under dressed, as I was surrounded by people in suits lol. It was a great Agm, I think the board have a very strong skill set. I did go into the agm having concerns about the possibility of there being another capital raising to bring sanbrado into production, alongside the debt package. I also had high concerns about the amount of terrorist attacks in Burkina Faso and the level of safety in this country that we will be soon operating in. I asked both these questions, after a really good investor presentation given by Richard Hyde, he seemed very frustrated with the current share price, after all the good progress they have made on sanbrado! He keeps telling us, that the project is only going to get better! Life of mine Asic for sanbrado could eventually be $600Us ASIC! Once the preso was over, it went into question time. I asked two questions, firstly about the debt package and how much debt that shareholders should expect, given the Ann made that we had 14 debt finances interested, with debt offers between 160-220 Us million. I was given a 190-200us million debt estimate! The Waf management team are looking to try and not dilute shareholders and would rather go forward with this project using debt. But this decision is not going to made lightly, but we will all Find out the full extent of the debt package went its announced next month! I then went on to raise my concerns about the current state of Burkina Faso, and raised my concerns about the amount of terrorist attacks occurring. He addressed this issue very well, with a summary about how we are operating in a very poor African country and that these terrorist attacks are occurring away from the sanbrado project near the boarder of Mali and that yes they are serious matters, but are of not much risk to our project! I'm struggling to summarise everything that was said in the agm, as it was a bit like - over information over load for me. But I hope this information helps. I had the opportunity to meet both mark Connolly and Richard Hyde after the agm, along with many others and they will all very professional and great blokes! We defiantly have an A grade team at the helm, this A grade project into production! I will keep the Agm experience close to my chest, as I try to accumulate more shares below 30c! I defiantly walked out of the Agm feeling ten times more confident about my investment in Western African resources. Quick few other updates - Regional exploration to start in Q1 and also a open cut contractor to be announced in Q1. Also they most likely won't Infil drill M1 South down 1000m as it's too expensive and they will wait until they are underground to infill this resources. Hope this helps nordesmic and other investors. Cheers ST