Ann: Investor Presentation, page-4

Hey Rhama,

There is some new information in the presentation of great interest to existing and prospective investors.

It's on slides 18 to 20 headed as "Attractive Valuation compared to Peers" and there are 6 comparisons. GPR already compares very well on the basis of Life of Mine gold recovered with excellent prospects for this to increase, amongst other reasons, once the village in the pit area is relocated. With the smallest market capitalisation despite beating many peers in the comparisons, Barny's stated value is justifiable.

The only hiccup this year in share price movement was when the share reversed to 3.0 cents while KGD was suspended last month and no reason given for a few days (ASX paperwork related in the end and of no consequence to GPR). Since 17th March for the last month there has been a steady rise from 3.0 to 4.0 cents on above average volume that seems to have dried up most of the sellers that has always seemed to cap share price increases these last two years.

With the top 4 shareholder groups accounting for 67% of shares, GPR is tightly held and sooner or later this is going to pop IMO with production looking assured. At 4.0 cents it looks very good value to me.