14th October 2013 WWW.LCC.ASIA

IMPORTANT DISCLAIMER This report has been prepared by Lincoln Crowne & Company Pty. Limited ("LCC"). The research is based on information obtained from sources believed to be accurate and reliable. LCC does not guarantee the accuracy, reliability, completeness or suitability o f any such information and makes no warranty, guarantee or representation, expressly or impliedly about this research. LCC accepts no obligation to correct or update the information. No opinion or recommendation is made within this research. This report is not intended to be, nor should it be relied on, as a substitute for professional advice. This report should not be relied upon as the sole basis for any investment decision or planning, and LCC does not accept any responsibility on this basis for actions made

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How Codelco is Going to Fund its Capex Program?

Global Economy Fundamentals

Source: BREE, Capital IQ, COMEX, LME, SHFE, Thomson Reuters, LCC research. Note: the SHFE copper price is based on the LME 3-month price and includes CIF premium, tax and duty

Precious Metals & EnergyLast Close

Price

YTD

Change

4-Week

Change

Week

ChangeBase Metals

Last Close

Price

YTD

Change

4-Week

Change

Week

Change

Gold (A$/oz) 1,343 ▼ -17% ▼ -5% ▼ -3.2% Copper (A$/lb) 3.41 ▼ -1% ▼ -1% ▼ -0.6%

Gold (US$/oz) 1,272 ▼ -24% ▼ -3% ▼ -2.9% Copper (US$/lb) 3.23 ▼ -10% ▲ 1% ▼ -0.3%

Silver (US$/oz) 21.3 ▼ -29% ▼ -2% ▼ -2.0% Cobalt (US$/lb) 12.47 ▲ 8% ▼ -4% ▲ 1.9%

Platinum (US$/oz) 1,367 ▼ -11% ▼ -5% ▼ -1.3% Molybdenum (US$/lb) 9.53 ▼ -19% — 0% ▲ 1.2%

Palladium (US$/oz) 709 ▲ 1% ▲ 2% ▲ 1.0% Nickel (US$/lb) 6.23 ▼ -20% ▲ 1% ▲ 1.3%

Crude Oil (US$/barrel) 102 ▲ 11% ▼ -4% ▼ -1.4% Lead (US$/lb) 0.94 ▼ -11% ▼ -3% ▲ 2.3%

Gas H.Hub (US$/m btu) 3.73 ▲ 11% ▼ -1% ▲ 6.5% Zinc (US$/lb) 0.85 ▼ -8% ▼ -4% ▲ 2.3%

Uranium (US$/lb) 35 ▼ -19% ▲ 2% — 0.0% Tin (US$/lb) 10.58 ▼ -1% ▲ 3% ▲ 1.5%

Currencies & IndicesLast Close

Price

YTD

Change

4-Week

Change

Week

ChangeGlobal Markets

Last Close

Price

YTD

Change

4-Week

Change

Week

Change

AUD/USD 0.947 ▼ -9% ▲ 2% ▲ 0.3% ASX 200 5,231 ▲ 13% ▲ 0% ▲ 0.4%

RMB/USD 0.163 ▲ 2% ▼ 0% ▼ 0.0% Dow Jones 15,237 ▲ 16% ▼ -1% ▲ 1.1%

CAD/USD 0.963 ▼ -4% ▼ 0% ▼ -0.8% S&P 500 Index 1,703 ▲ 19% ▲ 1% ▲ 0.8%

ZAR/USD 0.101 ▼ -15% ▲ 0% ▲ 0.8% Shang Hai Index 2,228 ▼ -2% ▼ 0% ▲ 2.5%

ASX Ordinary Gold 2,350 ▼ -52% ▼ -10% ▼ -6.5% Hang Seng Index 23,218 ▲ 2% ▲ 1% ▲ 0.3%

TSX Global Gold 163 ▼ -46% ▼ -9% ▼ -3.9% Nikkei 225 14,405 ▲ 39% ▲ 0% ▲ 2.7%

ASX 300 Metals & Mining 3,164 ▼ -13% ▼ -3% ▼ 0.0% FTSE 100 Index 6,487 ▲ 10% ▼ -1% ▲ 0.5%

TSX Global Mining 70 ▼ -27% ▼ -3% ▼ -1.1% Euro STOXX 50 Index 2,974 ▲ 13% ▲ 4% ▲ 1.6%

1200

1300

1400

1500

1600

1700

Jul Aug Sep Oct

Gold Price

A$/oz

US$/oz

3.00

3.20

3.40

3.60

3.80

0

100

200

300

400

Jul Aug Sep Oct

LME Copper Price and Volume

Volume ('000 lot) Price (US$/lb)Price (A$/lb)

3.00

3.20

3.40

3.60

3.80

0

20

40

60

80

100

Jul Aug Sep Oct

COMEX Copper Price and Stocks

Stocks ('000 t) Price (US$/lb)

3.50

3.70

3.90

4.10

4.30

4.50

0

20

40

60

80

100

Jul Aug Sep Oct

SHFE Copper Price and Stocks

Stocks ('000 t) Price (US$/lb)

3.50

3.70

3.90

4.10

4.30

4.50

0

20

40

60

80

100

Jul Aug Sep Oct

SHFE Copper Price and Volume

Volume ('000 lot) Price (US$/lb)

3.00

3.20

3.40

3.60

3.80

0

40

80

120

160

Jul Aug Sep Oct

COMEX Copper Price and Volume

Volume ('000 lot) Price (US$/lb)

2000

2500

3000

3500

Jul Aug Sep Oct

S&P/ASX All Ordinaries Gold Index(XGO)

3.00

3.20

3.40

3.60

3.80

4.00

0

100

200

300

400

500

Feb 12 Aug 12 Feb 13 Aug 13

China Copper Imports

Tonnes ('000t)

Copper Price

3.00

3.20

3.40

3.60

3.80

0

200

400

600

800

Jul Aug Sep Oct

LME Copper Price and Stocks

Stocks ('000 lot) Price (US$/lb)Price (A$/lb)

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

LatinAmerica

NorthAmerica

Other Australia SouthAfrica

World

2012 Gold Production Costs

Total production costs

Cash costs

0

2

4

6

8

10

12

0

5,000

10,000

15,000

20,000

25,000

30,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Mine Copper ProductionAustralia (kt)ROW (kt)Refined Consumption (kt)Closing stocks (weeks)

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

To

nn

es

Mine Gold ProductionAustraliaROWConsumption

14th October 2013 WWW.LCC.ASIA

IMPORTANT DISCLAIMER This report has been prepared by Lincoln Crowne & Company Pty. Limited ("LCC"). The research is based on information obtained from sources believed to be accurate and reliable. LCC does not guarantee the accuracy, reliability, completeness or suitability o f any such information and makes no warranty, guarantee or representation, expressly or impliedly about this research. LCC accepts no obligation to correct or update the information. No opinion or recommendation is made within this research. This report is not intended to be, nor should it be relied on, as a substitute for professional advice. This report should not be relied upon as the sole basis for any investment decision or planning, and LCC does not accept any responsibility on this basis for actions made

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Markets & Majors

Chile raised its copper output forecast for 2013 and upped its global copper surplus expectations by around 40%, on soaring global production and slower demand growth. The country, the world's largest producer of copper, will produce about 5.7 million tonnes of copper in 2013, (+5% yoy) thanks to better output forecasts. State copper commission Cochilco also raised its copper 2013 surplus expectations to 294,000 tonnes, up from its previous forecast of 209,000, due to higher production in Chile, the US, Zambia and Indonesia and to lower demand for the metals from countries such as India, Taiwan and South Korea. It expects the market surplus to increase in 2014 to 327,000 tonnes as new copper mining projects come on stream, in Chile and abroad. Cochilco kept its 2014 copper price forecast steady at US$3.15/lb.

Chile's government is reviewing the way it funds state-owned copper miner Codelco following requests from some members of parliament. The world's top copper miner, which gives all of its profits back to the state, is struggling to finance an ambitious, multi-year investment plan, previously estimated at about US$27 billion. The government has awarded Codelco US$1 billion for 2013, an amount, which the miner deemed insufficient. Codelco, which produces about 11% of the world's copper, has since reduced its planned investment for this year to around US$4 billion from US$4.5 billion.

Freeport-McMoRan Copper & Gold (NYSE: FCX) the world's #1 publicly listed copper producer, expects to sell 4.5 billion pounds of copper (2 million tonnes) in 2014 year, but maintained its 5% cut in expected copper sales this year.

Chilean miner Antofagasta (LON: ANTO) expects the cost of new projects to fall further following two years of declines, as copper prices weaken into 2014, taking the steam out of rampant inflation that has hampered development. According to ANTO, project costs had already dropped 10 to 15% in the last two years.

China’s gold imports through Hong Kong in August reached 110 tonnes (vs. 113 tonnes in July) as the country remains on track to import over 1,000 tonnes of gold this year. A total of 723 tonnes has been imported via Hong Kong for the first eight months.

South Australian resource sector jobs are expected to more than triple by 2030 with the tripling of mining and infrastructure projects, according to the Resources and Engineering Skills Alliance.

Emerging Copper Companies

Source: Capital IQ, ASX announcements, LCC research. C1 costs and capex as estimated and announced by the respective companies.

Code Company NameOpen

Price

Close

Price

Week

High

Week

Low

Market

Cap

(A$m)

52 Week

Range

Cash

(A$m)

EV

(A$m)Project

Annual

Production

(t)

Mineral

Resource

(mt Cu)

C1

Costs

(US$/lb)

Capex

(US$m)

AVI Avalon Minerals 0.01 0.01 0.01 0.01 ▲ 33.3% 10 1 9 Viscaria 20,000 0.610 0.49 180

AVB Avanco Resources 0.08 0.08 0.10 0.08 ▲ 2.5% 92 4 89 Antas North 12,000 0.762 1.10 70

AZS Azure Minerals 0.04 0.04 0.05 0.04 ▼ -2.4% 25 2 23 Promontorio 4,850 0.021 1.16 35

BTR Blackthorn Resources 0.27 0.26 0.30 0.25 ▼ -3.7% 43 26 17 Kitumba 39,000 1.000 2.04 358

CDU Cudeco 2.04 1.95 2.06 1.76 ▼ -4.7% 399 48 351 Rocklands N/A 0.483 0.81 238

FND Finders Resources 0.20 0.20 0.20 0.20 — 0.0% 101 3 107 Wetar (95% ) 28,000 0.205 1.11 133

HAV Havilah Resources 0.26 0.26 0.26 0.25 ▲ 2.0% 31 6 25 Kalkaroo 40,000 0.623 1.20 360

HCH Hot Chili 0.43 0.43 0.43 0.40 — 0.0% 144 23 121 Productora 55,000 0.920 1.35 600

HIG Highlands Pacific 0.06 0.06 0.06 0.06 ▼ -6.7% 44 7 37 Frieda River (18.2% ) 246,000 13.000 0.58 5,300

IRN Indophil Resources 0.16 0.16 0.17 0.15 ▼ -3.1% 186 224 -37 Tampakan (37.5% ) 375,000 15.000 0.46 5,900

MMC Marengo Mining 0.02 0.02 0.02 0.02 — 0.0% 26 7 40 Yandera 90,000 0.806 1.80 1,800

MNC Metminco 0.03 0.04 0.05 0.03 ▲ 33.3% 77 13 64 Los Calatos 100,000 6.538 1.06 1,320

RXM Rex Minerals 0.52 0.50 0.53 0.49 ▼ -3.8% 94 25 70 Hillside 80,000 2.000 1.20 900

VXR Venturex Resources 0.01 0.01 0.01 0.01 — 0.0% 12 3 9 Pilbara 16,500 0.316 1.49 265

YTC YTC Resources 0.25 0.27 0.27 0.24 ▲ 10.2% 71 16 90 Nymagee (95% ) N/A 0.096 N/A N/A

Weekly

Change

14th October 2013 WWW.LCC.ASIA

IMPORTANT DISCLAIMER This report has been prepared by Lincoln Crowne & Company Pty. Limited ("LCC"). The research is based on information obtained from sources believed to be accurate and reliable. LCC does not guarantee the accuracy, reliability, completeness or suitability o f any such information and makes no warranty, guarantee or representation, expressly or impliedly about this research. LCC accepts no obligation to correct or update the information. No opinion or recommendation is made within this research. This report is not intended to be, nor should it be relied on, as a substitute for professional advice. This report should not be relied upon as the sole basis for any investment decision or planning, and LCC does not accept any responsibility on this basis for actions made

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Copper Producers

Source: Capital IQ, ASX announcements, LCC research. C1 and C3 costs as reported in last quarter, except for TGS, LCC estimate.

ASX-listed Company News

Avanco Resources (ASX: AVB) has reached a non-binding agreement on key commercial terms with regard to US$12m of non-dilutive royalty based investment with BlackRock. On executing the proposed transaction, Avanco would secure the shortfall funding required to potentially position Antas North as “fully financed into production” for ~12,000tpa of copper and ~7,000ozpa of gold. Capital expenditure at Antas North is estimated at US$70m including contingency and working capital – key terms for a US$58m senior debt facility have already been agreed with Banco Votorantim.

Beadell Resources (ASX: BDR) increased gold production to 55,094 ounces (+53% qoq) and increased recovery to 93% at the 100% owned Tucano CIL gold plant in Brazil thanks to the introduction of high grade ore from Duckhead. Head grade increased by 36% to 1.91 g/t gold. During the quarter the CIL plant throughput capacity was solid at 4.0 mtpa (~14% over nameplate capacity of 3.5 mtpa). Guidance for the half year gold production remains unchanged at 120,000 – 130,000 ounces for the six months from 1 July 2013. C1 cash costs (which exclude the 2% royalty) are expected to be within the range of US$435 – $485/oz with no allowance for any iron ore credits.

Saracen Mineral Holdings (ASX: SAR) produced 41,241 oz in the September quarter, +13% qoq. SAR recorded gold sales of 43,096 ounces for a revenue of A$66 million at an average gold price received of A$1,531/oz (average of spot and hedge prices).

Emerging Gold Producers

Source: Capital IQ, LCC research. C1 costs and capex as estimated and announced by the respective companies. Assumption: A$/US$ exchange rate of 0.95

Code Company NameOpen

Price

Close

Price

Week

High

Week

Low

Weekly

Change

Market

Cap (A$m)

52 Week

Range

Cash

(A$m)

EV

(A$m)

EV/

EBITDAProject

Quarterly

Production (t)

Ore

Reserve (mt

Cu)

C1 Costs

(US$/lb)

C3 Costs

(US$/lb)

ABY Aditya Birla Minerals 0.36 0.35 0.37 0.34 ▼ -4.2% 108 86 23 0.2x Nifty 9,873 0.473 2.84 N/A

AOH Altona Mining 0.15 0.14 0.15 0.13 ▼ -6.9% 72 26 68 4.8x Kylylahti 1,809 0.061 2.23 3.37

DML Discovery Metals 0.07 0.06 0.07 0.05 ▼ -20.5% 32 22 181 NM Boseto 5,034 0.191 3.45 N/A

HGO Hillgrove Resources 0.08 0.08 0.08 0.07 ▲ 2.6% 92 17 123 3.5x Kanmantoo 3,590 0.125 2.40 3.19

IVA Inova Resources 0.21 0.21 0.22 0.21 — 0.0% 153 33 120 NM Osborne 5,451 0.069 2.57 3.70

OZL OZ Minerals 4.40 4.40 4.47 4.31 — 0.0% 1,333 433 901 7.1x Prominent Hill 17,379 0.748 1.95 3.56

PEM Perilya 0.32 0.32 0.33 0.32 — 0.0% 246 92 352 5.8x Cerro de Maimón 2,747 0.123 0.92 N/A

PNA PanAust 2.07 1.94 2.10 1.87 ▼ -6.5% 1,153 89 1,234 4.0x Phu Kham (90% ) 15,483 1.127 1.45 2.12

SFR Sandfire Resources 6.34 6.30 6.45 6.00 ▼ -0.6% 981 77 1,189 6.0x DeGrussa 14,293 0.438 1.37 2.21

SRQ Straits Resources 0.02 0.02 0.02 0.01 — 0.0% 17 41 99 NM Tritton 6,271 0.178 2.55 3.87

TGS Tiger Resources 0.33 0.33 0.34 0.30 — 0.0% 223 13 210 3.9x Kipoi 1 (60% ) 11,116 0.303 1.06 1.35

Code Company NameOpen

Price

Close

Price

Week

High

Week

Low

Weekly

Change

Market Cap

(A$m)

52 Week

Range

Cash

(A$m)

EV

(A$m)Project Name

Annual

Production (oz)

Reserves

(moz)

C1 Costs

(US$/oz)

Capex

(US$m)

ABU ABM Resources 0.03 0.03 0.03 0.03 ▼ -3.4% 92 8 84 Old Pirate 100,000 0.3 383 27

ALK Alkane Resources 0.40 0.40 0.42 0.35 — 0.0% 149 64 85 Tomingley 55,000 0.2 931 102

AZM Azumah Resources 0.03 0.03 0.04 0.03 — 0.0% 11 4 6 Wa 100,000 0.7 700 160

BAB Bullabulling Gold 0.07 0.05 0.07 0.05 ▼ -20.0% 22 1 21 Bullabulling 175,500 2.4 843 387

CVG Convergent Minerals 0.02 0.01 0.02 0.01 ▼ -13.3% 4 1 2 Blue Vein 40,000 0.2 770 15

CAS Crusader Resources 0.27 0.27 0.29 0.25 ▼ -1.9% 34 3 31 Borborema 131,000 1.6 558 169

DRM Doray Minerals 0.66 0.63 0.67 0.63 ▼ -4.5% 89 26 64 Andy Well 74,000 0.3 592 53

GCY Gascoyne Resources 0.20 0.19 0.21 0.19 ▼ -2.6% 30 3 27 Glenburgh 73,000 0.3 865 57

GRY Gryphon Minerals 0.14 0.13 0.15 0.13 ▼ -10.7% 50 52 -2 Banfora 151,000 1.1 774 208

IGO Independence Group 3.92 3.70 3.95 3.43 ▼ -5.6% 863 27 856 Tropicana (30% ) 470,000 3.9 589 793

IDC Indochine Mining 0.07 0.06 0.07 0.05 ▼ -12.7% 55 2 53 Mt Kare 130,000 1.1 800 218

IAU Intrepid Mines 0.27 0.27 0.27 0.26 ▲ 1.9% 150 94 56 Tumpangpitu 143,000 1.5 376 204

KGD Kula Gold 0.11 0.11 0.11 0.11 — 0.0% 14 4 10 Woodlark 90,000 0.8 730 160

MSR Manas Resources 0.05 0.05 0.05 0.05 — 0.0% 14 6 8 Shambesai 55,000 0.3 387 41

MLX Metals X 0.14 0.14 0.14 0.14 — 0.0% 223 75 149 CGMP 95,000 1.2 930 111

MDI Middle Island Resources 0.09 0.09 0.09 0.08 — 0.0% 11 6 6 Samira Hill N/A 0.3 N/A 1

MYG Mutiny Gold 0.04 0.03 0.04 0.03 ▼ -15.8% 17 2 15 Deflector 80,000 0.4 606 59

PAN Panoramic Resources 0.28 0.28 0.28 0.26 ▼ -1.8% 72 23 49 Gidgee 87,000 0.6 827 121

Mt Henry (70% ) 116,000 0.9 884 185

PIR Papillon Resources 1.04 1.02 1.08 1.02 ▼ -1.9% 345 62 283 Fekola 306,000 3.0 580 292

PVM PMI Gold 0.32 0.30 0.32 0.30 ▼ -6.3% 122 113 9 Obotan 221,500 2.4 626 297

PXG Phoenix Gold 0.16 0.16 0.17 0.15 ▼ -3.1% 37 16 21 Castle Hill 100,000 0.7 798 124

ROL Robust Resources 0.35 0.35 0.38 0.33 — 0.0% 36 19 17 Andash (80% ) 70,000 0.4 27 96

SIH Sihayo Gold 0.04 0.04 0.04 0.04 — 0.0% 30 3 27 Pungkut 46,000 0.3 635 60

SUM Sumatra Copper & Gold 0.12 0.12 0.12 0.12 ▲ 4.3% 50 19 31 Tembang 30,000 0.4 487 40

14th October 2013 WWW.LCC.ASIA

IMPORTANT DISCLAIMER This report has been prepared by Lincoln Crowne & Company Pty. Limited ("LCC"). The research is based on information obtained from sources believed to be accurate and reliable. LCC does not guarantee the accuracy, reliability, completeness or suitability o f any such information and makes no warranty, guarantee or representation, expressly or impliedly about this research. LCC accepts no obligation to correct or update the information. No opinion or recommendation is made within this research. This report is not intended to be, nor should it be relied on, as a substitute for professional advice. This report should not be relied upon as the sole basis for any investment decision or planning, and LCC does not accept any responsibility on this basis for actions made

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Mergers & Acquisitions

Oceana Gold Corporation (ASX: OGC) and Pacific Rim Mining Corp. (TSX: PMU) have entered into a definitive agreement pursuant to which OGC will acquire all the shares of PMU for C$10.2 million. PMU key asset is the El Dorado high grade gold-silver resource with significant exploration upside, in El Salvador. El Dorado has a resource of 1.7 moz AuEq grading 10.4 g/t AuEq. The acquisition transaction multiple amounts to US$6/oz.

Capital Mining (ASX: CMY) has signed an agreement with Indochine Mining (ASX: IDC) to acquire up to 85% of IDC gold assets in Cambodia. IDC has agreed to sell an initial 55% interest subject to a number of conditions including the completion of A$3 million capital raising by CMY. IDC has agreed to grant CMY the right to earn up to a further 30% interest as follows: an additional 15% following sole funding a total of A$6 million on exploration expenditure within 3 years of settlement and a further 15% following sole funding of a further A$4 million, for a total expenditure of A$10 million, within 3 years of settlement. IDC has a clawback right should CMY fund less than A$3 million of exploration expenditure within 2 years of settlement. The consideration to acquire the initial 55% is A$20,000 and the issue of CMY shares to IDC representing 40% of CMY’s shares on issue immediately after settlement.

Coppermoly (ASX: COY) has amended the terms of the Re-Acquisition Agreement with Barrick in relation to the Simuku, Nakru and Talelumas projects in West New Britain. The first payment has been reduced from A$1.011 million to A$680,000. This has been paid to Barrick, restoring Coppermoly to 51% ownership. The second payment has increased from A$1 million to A$1.331 million, scheduled in August 2012 to increase the ownership by 21% to 72%. Full ownership could be restored for an additional A$3m before August 2018, with the release of a feasibility study on any one or more of the exploration licences.

Gold Producers

Source: Capital IQ, LCC research. Assumption: A$/US$ exchange rate of 0.95. Note: * These stocks are not primarily listed on the ASX. Prices, market cap and multiples are based on their primarily listed market quote.

Code Company NameOpen

Price

Close

Price

Week

High

Week

Low

Weekly

Change

Market

Cap

(A$m)

52 Week

Range

Cash

(A$m)

Debt

(A$m)

EV

(A$m)

EV/

EBITDA

Ore

Reserve

(moz)

Quarterly

Production (oz)

C1 Costs

(US$/oz)

C3 Costs

(US$/oz)

BDR Beadell Resources 0.86 0.85 0.86 0.81 ▼ -1.2% 668 28 141 781 70.2x 1.9 36,179 679 N/A

BEZ Besra Gold* 0.05 0.05 0.05 0.05 — 0.0% 17 4 43 56 7.6x 0.1 18,500 793 1,330

CTO Citigold Corporation 0.05 0.05 0.05 0.05 ▼ -6.1% 62 1 0 62 NM 0.3 773 559 N/A

CRK Crocodile Gold Corp* 0.08 0.11 0.11 0.07 ▲ 31.3% 43 29 45 58 0.6x 1.0 48,261 1,101 N/A

DRA Dragon Mining 0.24 0.22 0.24 0.22 ▼ -8.5% 19 7 0 12 60.0x 0.1 17,223 928 N/A

EVN Evolution Mining 0.82 0.76 0.83 0.71 ▼ -7.3% 539 14 133 658 3.3x 3.1 112,559 724 1,298

EDV Endeavour Mining Corp* 0.61 0.54 0.65 0.54 ▼ -11.5% 223 82 211 352 5.6x 2.5 73,700 854 975

FML Focus Minerals 0.01 0.01 0.01 0.01 ▼ -8.3% 101 114 11 -3 NM 0.5 25,172 1,804 1,863

GDO Gold One International 0.23 0.21 0.23 0.21 ▼ -10.9% 291 8 226 509 6.6x 2.7 68,208 1,071 1,244

KCN Kingsgate Consolidated 1.62 1.51 1.62 1.50 ▼ -6.5% 230 42 200 388 3.6x 1.9 61,793 824 1,272

KRM Kingsrose Mining 0.41 0.39 0.41 0.39 ▼ -6.1% 129 1 6 134 NM N/A 1,395 6,445 N/A

LSA Lachlan Star 0.16 0.16 0.16 0.16 — 0.0% 18 3 26 41 NM 0.4 16,160 1,137 N/A

MML Medusa Mining 2.22 2.02 2.25 1.99 ▼ -9.0% 382 8 15 388 5.4x 0.6 15,642 355 N/A

MLX Metals X 0.14 0.14 0.14 0.14 — 0.0% 223 75 0 149 17.7x 2.7 41,622 1,268 N/A

MOY Millennium Minerals 0.29 0.29 0.30 0.27 ▼ -1.7% 62 5 54 112 3.2x 0.7 16,441 685 844

NCM Newcrest Mining 11.15 10.50 11.19 10.45 ▼ -5.8% 8,039 69 4,210 12,180 4.6x 87.3 642,032 713 988

NGF Norton Gold Fields 0.14 0.13 0.15 0.13 ▼ -7.1% 121 56 115 180 7.4x 1.1 41,464 978 1,246

NST Northern Star Resources 0.84 0.82 0.85 0.80 ▼ -3.0% 346 61 12 297 4.2x 0.3 25,421 722 1,043

OGC OceanaGold Corporation* 1.46 1.32 1.52 1.28 ▼ -9.6% 388 18 247 616 3.4x 3.6 68,353 682 1,000

PNA PanAust 2.07 1.94 2.10 1.87 ▼ -6.5% 1,153 89 171 1,234 4.0x 1.1 28,712 603 757

PGI PanTerra Gold 0.07 0.06 0.07 0.06 ▼ -13.7% 48 4 0 44 NM 0.6 6,661 991 N/A

PRU Perseus Mining 0.52 0.48 0.53 0.48 ▼ -7.7% 220 35 0 185 2.6x 4.0 47,565 1,181 1,405

RDR Reed Resources 0.02 0.02 0.03 0.02 ▼ -8.7% 11 19 0 -8 NM 0.8 12,918 1,642 1,700

RED Red 5 - - - - suspended 8 23 16 NM 0.7 3,169 727 1,096

RMS Ramelius Resources 0.15 0.13 0.16 0.13 ▼ -13.3% 47 37 4 13 0.7x 0.6 18,988 1,459 N/A

RRL Regis Resources 4.05 3.60 4.07 3.56 ▼ -11.1% 1,792 81 0 1,711 7.1x 3.0 72,134 635 N/A

RSG Resolute Mining 0.61 0.56 0.62 0.55 ▼ -8.3% 356 156 91 291 2.0x 4.4 102,685 799 963

SAR Saracen Mineral Holdings 0.21 0.22 0.23 0.20 ▲ 2.4% 128 13 22 137 2.3x 1.1 37,259 783 1,148

SBM St Barbara 0.55 0.46 0.55 0.45 ▼ -15.6% 225 129 328 424 NM 5.7 107,363 910 N/A

SLR Silver Lake Resources 0.74 0.67 0.74 0.65 ▼ -8.8% 291 19 33 305 NM 1.7 55,600 681 1,036

TBR Tribune Resources 2.26 2.40 2.48 2.26 ▲ 6.2% 121 9 14 126 1.9x 0.2 19,133 401 N/A

TGZ Teranga Gold Corp* 0.65 0.61 0.67 0.60 ▼ -6.2% 180 54 82 208 0.9x 1.7 49,661 642 1,063

TRY Troy Resources 1.44 1.36 1.45 1.32 ▼ -5.6% 227 41 0 186 3.2x 0.4 27,808 813 N/A

UML Unity Mining 0.07 0.06 0.07 0.06 ▼ -10.1% 44 28 0 16 2.2x 0.4 13,212 881 N/A