fat prophet report

We attended the company's AGM in Sydney yesterday, where Chairman Peter Cassidy
confirmed that the company is on track for the commissioning of its new Jinfeng gold project
in the second half of 2006. Sino is poised for a dramatic increase in its Chinese gold
production profile, with phase one production of 180,000 ounces annually before phase two
expansion to 300,000 ounces from 2008. CEO Jake Klein highlighted numerous emerging
project opportunities that Sino is pursuing. We anticipate a further significant re-rating of Sino
ahead of first Jinfeng gold production later this year.