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Message: Some News from the AGM .. Just a little for now.

actually I'm not disqusted at all, just very tired from the last few days, been quite busy. Also not selling SGR or SGX. The meeting was informative and George answered questions although he got annoyed with my many questions although not many other shareholders stood up to ask any pointed / tough questions. George said he was disgusted with the share price (said it was abysmal) although he owns no shares (yet), imagine how we feel, I once owned about 230,000 shares and still hold about 130,000 shares as my core position as well as decent position in SGX.

Regarding the ball mill it should be up running in about a week and they stated they have 50,000 tonnes on surface as a stock pile. I suspect it will take the full Q3 to catch up on milling and the 95k-105k oz goal is still achievable.

Regarding the resource report, George again used the term exponential, however I'm still very shocked that they didn't try to report higher proven and probable reserves which is what they are now going to focus on with this years drill program. They clearly disappointed the market with this report, weither it's a 43101 or not. Stating to the market "exponential increase" builds expections and on this they failed to communicate their purpose with this report. I'd say it was more for internal use and mine planning, not for the analysts and the shareholders to judge the size of the asset.

The positive from the meeting was that the operation team has done a very good job on completing their stated goals of improvement on many fronts, we just now need them to prove they can hit their production targets without taking into account gold in a stock pile in front of the mill. An increase in head grade I believe is coming within the next few quarters and that will be very welcome news.

Hopefully George gets more pressure from Hugh to become a shareholder and I hope he can convince the analysts, fund managers and markets that this stock is way oversold.

Let me listen to my recording of the meeting and I'll post a few notes.

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