Ann: Australian Resources Conference presentation, page-2

A good presentation that shows very clearly where PXG is going if it doesn't get Taken-over in the mean time.......some points

-Heap leach est AISC $900oz AUD if so that will add another =12.5mill AUD EBIT

-The Norton deal looking more like it may well be a 8yr+ long term J.V --- from current gold est 10mill EBIT

-Toll treatment Greenfields Mill ....more cashflow ...how positive we will find out over the next couple of Qtrs

-Currently 10mill in cash (420mill shares)

-Exploration at the northern Zuleika Shear zone on the same trend of NST 6moz resource to the ....Huge potential here ....(would NST ever look to PXG to add reserves ?)...