30th September 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 ob ligation 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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2014 Copper Premiums to Increase by 50%

Global Economy Fundamentals

Source: 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$/oz) 1,435 ▼ -11% ▼ -8% ▲ 1.2% Copper (A$/lb) 3.53 ▲ 2% ▼ -2% ▲ 0.4%

Gold (US$/oz) 1,336 ▼ -20% ▼ -4% ▲ 0.3% Copper (US$/lb) 3.29 ▼ -8% ▲ 2% ▼ -0.6%

Silver (US$/oz) 21.8 ▼ -28% ▼ -7% ▼ -0.6% Cobalt (US$/lb) 11.82 ▲ 2% ▼ -10% ▼ -8.6%

Platinum (US$/oz) 1,416 ▼ -8% ▼ -7% ▼ -1.2% Molybdenum (US$/lb) 9.53 ▼ -19% ▼ -3% — 0.0%

Palladium (US$/oz) 726 ▲ 3% ▲ 1% ▲ 0.7% Nickel (US$/lb) 6.30 ▼ -19% ▲ 1% ▼ -1.5%

Crude Oil (US$/barrel) 102 ▲ 11% ▼ -3% ▼ -1.3% Lead (US$/lb) 0.94 ▼ -11% ▼ -6% ▲ 0.4%

Gas H.Hub (US$/m btu) 3.50 ▲ 4% ▼ -5% ▼ -7.1% Zinc (US$/lb) 0.85 ▼ -8% ▼ -6% ▲ 1.2%

Uranium (US$/lb) 35 ▼ -18% ▲ 4% ▲ 0.3% Tin (US$/lb) 10.64 ▼ 0% ▲ 10% ▲ 0.4%

Currencies & IndicesLast Close

Price

YTD

Change

4-Week

Change

Week

ChangeGlobal Markets

Last Close

Price

YTD

Change

4-Week

Change

Week

Change

AUD/USD 0.931 ▼ -11% ▲ 5% ▼ -0.9% ASX 200 5,307 ▲ 14% ▲ 3% ▲ 0.6%

RMB/USD 0.163 ▲ 2% ▲ 0% ▲ 0.0% Dow Jones 15,258 ▲ 16% ▲ 3% ▼ -1.2%

CAD/USD 0.970 ▼ -4% ▲ 2% ▼ -0.2% S&P 500 Index 1,692 ▲ 19% ▲ 4% ▼ -1.1%

ZAR/USD 0.099 ▼ -16% ▲ 2% ▼ -2.2% Shang Hai Index 2,160 ▼ -5% ▲ 3% ▼ -1.5%

ASX Ordinary Gold 2,587 ▼ -47% ▼ -12% ▼ -7.9% Hang Seng Index 23,207 ▲ 2% ▲ 7% ▼ -1.3%

TSX Global Gold 176 ▼ -42% ▼ -12% ▼ -1.2% Nikkei 225 14,760 ▲ 42% ▲ 10% ▲ 0.1%

ASX 300 Metals & Mining 3,271 ▼ -10% ▲ 2% ▼ -0.6% FTSE 100 Index 6,513 ▲ 10% ▲ 2% ▼ -1.3%

TSX Global Mining 72 ▼ -25% ▲ 1% ▼ -1.0% Euro STOXX 50 Index 2,919 ▲ 11% ▲ 7% ▼ -0.3%

1200

1300

1400

1500

1600

1700

Jun Jul Aug Sep

Gold PriceGold Price US$/oz100-day moving averageGold Price A$/oz

3.00

3.20

3.40

3.60

3.80

0

100

200

300

400

Jun Jul Aug Sep

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

Jun Jul Aug Sep

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

Jun Jul Aug Sep

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

Jun Jul Aug Sep

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

Jun Jul Aug Sep

COMEX Copper Price and Volume

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

1000

3000

5000

7000

Sep 12 Dec 12 Mar 13 Jun 13 Sep 13

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

Jun Jul Aug Sep

LME Copper Price and Stocks

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

0200400600800

100012001400

Q208

Q408

Q209

Q409

Q210

Q410

Q211

Q411

Q212

Q412

Q213

World Gold Demand and Supply

Total Demand (tonnes)

Total Supply (tonnes)

30th September 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 ob ligation 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

Codelco (10% of global production or 1.7 million tpa copper) could raise premiums by as much as 50% from this year's US$98/t to reach US$130-150/t in 2014. The copper premium is the difference between the benchmark futures price and the cost for delivered copper. Japanese smelters recently shocked the market with a proposed 45% increase in charges to Chinese end users. The size of the premium is an indication of underlying demand for the metal and spot premiums in China, responsible for consuming some 40% of the metal, has tripled so far this year and recently reached decade highs of more than US$200/t.

The flash HSBC Purchasing Managers' Index (PMI) climbed to 51.2 in September from August's 50.1, hitting a high not seen since March, with 10 of 11 sub-indices rising. Exports staged a promising comeback in September, the PMI showed, with new export orders jumping 3.6 points to a 10-month peak of 50.8. It was the first time in six months that export orders were above 50 points, the level that indicates expansion.

Nearly 11% of Australian minerals sector professionals, including engineers and geoscientists, are unemployed, according to an employment survey of almost 3000 individuals by the Australasian Institute of Mining and Metallurgy. The figure is up from just 2% only 12 months ago, exposing the extreme damage of the mining sector downturn.

Two of the world's top copper producers, Anglo American and Southern Copper, are talking about teaming up to develop Anglo's US$3.3 billion Quellaveco mine in Peru. Rising costs that have hit the global mining industry led Anglo American to reach out to Southern Copper about a potential partnership. Quellaveco is expected to start producing 225,000 tpa of copper from 2016.

Newmont Mining boss Gary Goldberg is not opposed to copper becoming a larger part of the gold producer’s portfolio. The company should start a copper oxide leach operation at Phoenix in Nevada before the end of the year and looks at bioleaching sulphides at Yanacocha in Peru. Newmont expects to produce 70-80 million pounds of copper this year at cash costs of US$2.45-2.65/lb.

BHP Billiton has priced a four-tranche global bond to raise US$5 billion. The bond comprises US$500 million senior floating rate notes due 2016, paying interest at three-month US dollar LIBOR plus 25 basis points, $500 million 2.05% senior notes due 2018, $1.5 billion 3.85% senior notes due 2023 and $2.5 billion 5% senior notes due 2043.

Workers at the Indonesian unit of Freeport McMoRan Copper & Gold Inc. expect to reach an agreement over pay in less than two weeks, according to one union official, cutting the risk of further disruption at the world's second-biggest copper mine after a deadly accident two months ago.

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 — 0.0% 5 1 4 Viscaria 20,000 0.610 0.49 180

AVB Avanco Resources 0.09 0.08 0.09 0.07 ▼ -3.5% 92 4 89 Antas North 12,000 0.762 1.10 50

AZS Azure Minerals 0.03 0.03 0.09 0.07 ▲ 3.3% 20 2 17 Promontorio 4,850 0.021 1.16 35

BTR Blackthorn Resources 0.26 0.30 0.35 0.24 ▲ 15.4% 49 26 24 Kitumba 39,000 1.000 2.04 358

CDU Cudeco 2.22 2.19 2.25 2.02 ▼ -1.4% 449 48 401 Rocklands N/A 0.483 0.81 225

FND Finders Resources 0.21 0.22 0.22 0.21 ▲ 7.3% 109 3 115 Wetar (95% ) 28,000 0.205 1.11 133

HAV Havilah Resources 0.28 0.24 0.28 0.24 ▼ -12.7% 29 6 23 Kalkaroo 40,000 0.623 1.20 360

HCH Hot Chili 0.44 0.41 0.44 0.40 ▼ -8.0% 135 23 112 Productora 55,000 0.920 1.35 600

HIG Highlands Pacific 0.07 0.07 0.07 0.07 ▼ -5.8% 51 7 44 Frieda River (18.2% ) 246,000 13.000 0.58 5,300

IRN Indophil Resources 0.19 0.18 0.19 0.17 ▼ -5.4% 211 224 -13 Tampakan (37.5% ) 375,000 15.000 0.46 5,900

MMC Marengo Mining 0.03 0.03 0.03 0.02 — 0.0% 28 7 42 Yandera 90,000 0.806 1.80 1,800

MNC Metminco 0.05 0.04 0.05 0.04 ▼ -2.2% 77 13 64 Los Calatos 100,000 6.538 1.06 1,320

RXM Rex Minerals 0.51 0.54 0.56 0.47 ▲ 4.9% 101 25 76 Hillside 80,000 2.000 1.20 900

VXR Venturex Resources 0.01 0.01 0.01 0.01 — 0.0% 14 3 11 Pilbara 16,500 0.316 1.41 251

YTC YTC Resources 0.26 0.25 0.27 0.24 ▼ -3.8% 66 16 85 Nymagee (95% ) N/A 0.096 N/A N/A

Weekly

Change

30th September 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 ob ligation 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

Sandfire Resources (ASX: SFR) has revised its repayment schedule for the remaining A$285m balance of the project finance facility. While there is no change to the maturity of the facility (December 2015), A$55m of repayments have been moved to the term of the facility.

Anglogold Ashanti and Independence Group (ASX: IGO) Tropicana mine in Western Australia poured its first gold last week.

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 0.90.

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 0.36 0.35 ▼ -2.8% 108 86 23 0.2x Nifty 9,873 0.473 2.84 N/A

AOH Altona Mining 0.15 0.16 0.16 0.15 ▲ 3.3% 82 26 79 5.5x Kylylahti 1,809 0.061 2.23 3.37

DML Discovery Metals 0.12 0.10 0.12 0.10 ▼ -16.5% 54 24 201 NM Boseto 5,034 0.191 3.45 N/A

HGO Hillgrove Resources 0.07 0.07 0.07 0.06 — 0.0% 84 17 115 3.2x 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 4.38 4.41 4.43 4.29 ▲ 0.7% 1,337 433 904 7.1x Prominent Hill 17,379 0.748 1.95 3.56

PNA PanAust 2.27 2.18 2.32 2.17 ▼ -4.0% 1,299 94 1,385 4.4x Phu Kham (90% ) 15,483 1.127 1.45 2.12

SFR Sandfire Resources 6.76 6.50 6.95 6.45 ▼ -3.8% 1,012 77 1,220 6.1x DeGrussa 14,293 0.438 1.37 2.21

SRQ Straits Resources 0.01 0.02 0.02 0.01 ▲ 21.4% 20 41 101 NM Tritton 6,271 0.178 2.41 3.87

TGS Tiger Resources 0.30 0.31 0.31 0.29 ▲ 1.7% 206 13 193 3.7x 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 ▼ -3.2% 98 8 90 Old Pirate 100,000 0.3 383 27

ALK Alkane Resources 0.41 0.41 0.43 0.39 — 0.0% 153 64 89 Tomingley 55,000 0.2 882 96

AZM Azumah Resources 0.04 0.04 0.04 0.04 ▼ -2.6% 12 4 8 Wa 100,000 0.7 700 160

BAB Bullabulling Gold 0.06 0.06 0.06 0.06 ▼ -1.6% 22 1 21 Bullabulling 175,500 2.4 843 367

CAS Crusader Resources 0.23 0.30 0.30 0.23 ▲ 30.4% 38 3 35 Borborema 131,000 1.6 558 169

DRM Doray Minerals 0.70 0.65 0.70 0.64 ▼ -6.5% 92 26 67 Andy Well 74,000 0.3 592 53

GCY Gascoyne Resources 0.18 0.22 0.22 0.18 ▲ 22.2% 35 3 32 Glenburgh 73,000 0.3 819 54

GRY Gryphon Minerals 0.16 0.15 0.16 0.14 ▼ -3.2% 60 52 8 Banfora 151,000 1.1 774 208

IGO Independence Group 4.02 3.98 4.21 3.89 ▼ -1.0% 929 27 921 Tropicana (30% ) 470,000 3.9 558 752

IDC Indochine Mining 0.08 0.07 0.08 0.07 ▼ -3.9% 64 2 62 Mt Kare 130,000 1.1 800 218

IAU Intrepid Mines 0.27 0.27 0.28 0.24 — 0.0% 147 94 54 Tumpangpitu 143,000 1.5 376 204

KGD Kula Gold 0.10 0.13 0.13 0.10 ▲ 30.0% 16 4 13 Woodlark 90,000 0.8 730 160

MSR Manas Resources 0.05 0.05 0.06 0.05 — 0.0% 14 6 8 Shambesai 55,000 0.3 387 41

MLX Metals X 0.12 0.14 0.14 0.12 ▲ 12.5% 223 75 149 CGMP 95,000 1.2 881 105

MDI Middle Island Resources 0.11 0.09 0.11 0.09 ▼ -18.2% 11 6 6 Samira Hill N/A 0.3 N/A 1

MYG Mutiny Gold 0.05 0.04 0.05 0.04 ▼ -10.4% 22 2 21 Deflector 80,000 0.4 574 56

PAN Panoramic Resources 0.29 0.29 0.31 0.28 ▼ -1.7% 74 23 51 Gidgee 87,000 0.6 783 114

Mt Henry (70% ) 116,000 0.9 837 176

PIR Papillon Resources 1.09 1.12 1.15 1.02 ▲ 2.8% 378 62 317 Fekola 306,000 3.0 580 292

PVM PMI Gold 0.35 0.35 0.38 0.33 — 0.0% 145 113 32 Obotan 221,500 2.4 626 297

PXG Phoenix Gold 0.19 0.17 0.19 0.16 ▼ -10.5% 41 16 25 Castle Hill 100,000 0.7 756 118

ROL Robust Resources 0.26 0.26 0.26 0.23 — 0.0% 27 19 8 Andash (80% ) 70,000 0.4 27 96

SIH Sihayo Gold 0.04 0.04 0.04 0.03 ▼ -5.0% 32 3 29 Pungkut 46,000 0.3 635 60

SUM Sumatra Copper & Gold 0.12 0.11 0.12 0.11 ▼ -8.3% 46 19 27 Tembang 30,000 0.4 487 40

30th September 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 ob ligation 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

A1 Consolidated Gold (ASX: AYC) has reached an agreement with LionGold Corporation for an investment of A$4 million to fund the development of the A1 gold mine through to production. If approved by shareholders, the placement will result in LionGold Corp owning 19.92% of AYC.

Cape Alumina (ASX: CBX) and MetroCoal (ASX: MTE) have signed an agreement to merge to create a diversified bauxite and thermal coal business with a staged development pipeline. The combined entity should benefit from: an improved cash position of A$12 million (as at 31 August) to accelerate development of near-term bauxite projects in strong and growing global market and a larger market capitalisation of over A$28 million with increased liquidity for shareholders.

Metals X has reached an agreement with Alacer Gold Corporation to acquire the whole of its Australian gold operations for A$40 million. The assets include the Higginsville Gold Operations, which consists of a 1.35 mtpa gold plant, the Trident and Chalice underground mines (total mineral resource as at 31 Dec 2012 is 15.9 mt at 3 g/t for 1.55 moz gold), and the South Kalgoorlie Operations, which consists of a 1.2 mtpa gold plant and a diverse list of open pit and underground mining opportunities (total mineral resource as at 31 Dec 2012 is 87.8 mt at 2.0 g/t for 5.69 moz gold. The purchase price represents a multiple of A$5.5/oz. Alacer incurred an impairment loss of US$412 million in the June quarter in relation to the Australian gold assets.

Gold Producers

Source: Capital IQ, LCC research. Assumption: A$/US$ exchange rate of 0.90.

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 0.82 0.89 0.92 0.82 ▲ 8.5% 702 28 141 815 73.2x 1.9 36,179 679 N/A

BEZ* Besra Gold 0.06 0.06 0.06 0.05 ▼ -8.3% 21 4 43 60 8.1x 0.1 18,500 793 1,330

CTO Citigold Corporation 0.05 0.05 0.06 0.05 ▼ -5.7% 68 1 0 67 NM 0.3 773 529 N/A

DRA Dragon Mining 0.22 0.24 0.24 0.22 ▲ 6.8% 21 7 0 14 67.3x 0.1 17,223 928 N/A

EVN Evolution Mining 0.83 0.87 0.89 0.81 ▲ 4.2% 613 14 141 740 3.7x 3.1 112,559 686 1,229

EDV* Endeavour Mining Corp 0.69 0.68 0.73 0.66 ▼ -1.4% 281 82 222 422 6.4x 2.5 73,700 809 975

FML Focus Minerals 0.01 0.01 0.01 0.01 — 0.0% 128 114 11 25 NM 0.5 25,172 1,709 1,765

GDO Gold One International 0.23 0.23 0.23 0.23 — 0.0% 320 8 238 550 7.0x 2.7 68,208 1,071 1,244

KCN Kingsgate Consolidated 1.75 1.69 1.75 1.68 ▼ -3.4% 257 42 200 416 3.8x 2.9 61,793 824 1,272

KRM Kingsrose Mining 0.41 0.40 0.42 0.39 ▼ -2.4% 134 1 6 139 NM N/A 1,395 6,445 N/A

LSA Lachlan Star 0.21 0.21 0.22 0.21 — 0.0% 21 3 26 44 NM 0.4 16,160 1,137 N/A

MML Medusa Mining 2.23 2.18 2.24 2.11 ▼ -2.2% 412 8 16 419 5.8x 0.6 15,642 355 N/A

MOY Millennium Minerals 0.33 0.32 0.34 0.31 ▼ -4.5% 69 5 54 118 3.4x 0.7 16,441 685 844

NCM Newcrest Mining 12.50 11.47 12.55 11.41 ▼ -8.2% 8,782 69 4,210 12,923 4.8x 87.3 642,032 675 936

NGF Norton Gold Fields 0.13 0.14 0.14 0.13 ▲ 7.7% 130 56 115 189 7.7x 1.1 41,464 926 1,181

NST Northern Star Resources 0.85 0.87 0.88 0.82 ▲ 3.0% 369 61 12 320 4.5x 0.3 25,421 684 988

OGC* OceanaGold Corporation 1.60 1.56 1.64 1.50 ▼ -2.5% 458 18 247 687 3.7x 3.6 68,353 682 1,000

PGI PanTerra Gold 0.08 0.08 0.08 0.08 ▼ -3.7% 59 4 0 56 NM 0.6 6,661 1,037 N/A

PRU Perseus Mining 0.57 0.55 0.59 0.53 ▼ -4.4% 250 35 0 214 3.0x 4.0 47,565 1,181 1,405

RDR Reed Resources 0.02 0.02 0.02 0.02 ▲ 5.0% 11 19 0 -8 NM 0.8 12,918 1,642 1,700

RED Red 5 - - - - suspended 8 23 16 NM 0.7 3,169 689 1,039

RMS Ramelius Resources 0.17 0.16 0.17 0.15 ▼ -6.1% 56 37 4 23 1.0x 0.6 18,988 1,382 N/A

RRL Regis Resources 4.01 4.09 4.14 3.95 ▲ 2.0% 2,029 81 0 1,949 8.1x 3.0 72,134 601 N/A

RSG Resolute Mining 0.63 0.63 0.66 0.62 — 0.0% 404 156 91 339 1.9x 4.4 102,685 757 963

SAR Saracen Mineral Holdings 0.24 0.24 0.25 0.23 ▲ 2.1% 143 13 22 151 2.5x 1.1 37,259 742 1,087

SBM St Barbara 0.57 0.55 0.58 0.54 ▼ -2.7% 268 129 328 467 NM 5.7 107,363 862 N/A

SLR Silver Lake Resources 0.81 0.79 0.82 0.77 ▼ -1.9% 344 19 33 357 NM 1.7 55,600 645 981

TBR Tribune Resources 2.06 2.07 2.07 2.03 ▲ 0.5% 104 9 14 109 2.0x 0.2 19,133 401 N/A

TGZ* Teranga Gold Corp 0.73 0.70 0.73 0.66 ▼ -4.1% 206 54 82 235 1.1x 1.7 49,661 642 1,063

TRY Troy Resources 1.56 1.54 1.58 1.51 ▼ -1.0% 258 41 0 217 3.7x 0.4 27,808 813 N/A

UML Unity Mining 0.08 0.07 0.08 0.07 ▼ -2.6% 52 28 0 24 3.3x 0.4 13,212 881 N/A

VGO Vantage Goldfields 0.05 0.05 0.05 0.05 ▼ -3.8% 12 1 0 12 3.9x 0.5 5,756 1,264 1,464