Dear Shareholders,

In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically gold bullion, please see the attached industry bulletin titled, “Hedge fund investors turn to gold in bet against central banks.”

Investors such as Mr Einhorn are turning to gold because they are worried about the response of the US Federal Reserve and other central banks to the economic crisis. A bet on gold is a bet against paper currencies.

"The size of the Fed's balance sheet is exploding and the currency is being debased. Our guess is that if the chairman of the Fed is determined to debase the currency, he will succeed," Mr Einhorn wrote to investors.

Regards,

AGORACOM Investor Relations

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