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Kefi have recently revealed high grade exploration results from the Hikyrin South and Selib North gold projects in the Kingdom of Saudi Arabia. So far it has completed mapping, trenching and sampling operations on the projects. Later in the current quarter drill work will begin. KEFI encountered grades of up to 16.3 grams per tonne at Hykirin South while at Selib North gold grades reached 27.7 grams per tonne.......... I said that its programme at Hykirin South comprised twenty four samples spread across a 700 metre strike length. The results had an average grade of 5.9 grams per tonne. This follows an oversubscribed £1.85 million funding at the tail end of February. KEFI’s exploration venture, carried out through the Gold & Minerals (G&M) vehicle, is a partnership with Saudi investment group ARTAR. The AIM-quoted firm has a 40 per cent stake in G&M. The venture is targeting gold and copper equivalent discoveries in excess of one million ounces. During the 1970s and 1980s, the Geological Surveys departments of the US and of France documented 5,000 mineral occurrences, including over 1,000 for gold. Only 51 of these mineral occurrences were drilled. At present, the Saudi portfolio comprises three five-year exploration licences. G&M also has 15 further applications for exploration licences that are pending. It is expected that a number of these licences will be granted this year. Hope this helps and good luck.......

Heap Leach to Tank Leach 12 • Heap Leach Trial complete. Pad is currently rinsing. Recovery 65% Ni, 78% Co, 21% Fe. Acid Usage as per expectation from column tests. Heap will be subject to further rehabilitation research with Philippine Universities on Hyper accumulator plant species. 1 80% Payability includes $1.40 notional refining charge • Rainfall during trial nearly twice historical average. 5.2m poses significant operational issues with drippers vs wobblers, pond sizing and water management. • Tank Leach trials conducted with BGRIMM in 2011 showed very positive results with recoveries of nickel and cobalt of 92% and 97% respectively over a 22 hour period. • A Bridging study comparing HL to TL in Feb 2012 showed significant economic advantages of the TL in the Acoje environment. Indicative cash costs of 1US$4.33 lb.

Zambales Chromite Mining Corporation (Zambales) • Located 5km away from Acoje • 40% owned by ENK, 60% by Montemina Resources Corporation. • JORC inferred resource derived from historic measurements – 277,300 tonnes Ni – 11,750 tonnes Co • New drill program underway to upgrade to JORC Indicated Resource. Results expected end September 2012. • Organic growth for ENK. Process-Co #2 • DSO will continue on this property. Top up ore for Acoje Tank Leach Plant.

Acoje Project • Located in the Philippines, on Luzon Island, 250 km from Manila. • Historic Chromite and Platinum Group metals mining. • Brownfields Project. 50km underground tunnels. Acoje is an ex mining community. • JORC Inferred and Indicated Resource – 720,000 tonnes Ni – 37,400 tonnes Co • Current JORC Indicated and Inferred Resource of 69.9 million tonnes • Fully permitted Mine. Selling Direct Ship Ore since 2007.

100% ownership of a well defined world class gold resource • The size of the deposit provides attractive economies of scale • Proximity to infrastructure and major population centres provides cost and logistical advantages • Evaluation of development options is well advanced • Strong resource growth has been delivered with potential for further significant resource expansion identified • A board with the capability and experience take the project forward • Bullabulling Gold Limited is singularly focussed on developing a high tonnage, low cost, long life gold mining operation

Geophysics used to interpret geology beneath soil cover • Results correlate well with drilling, showing the deposit on the western limb of an anticline • 3 priority targets identified – Eastern limb of the anticline, could replicate existing deposit – Fold unconformities, structural traps for gold mineralisation – Vertical “feeder” structures with potential for high grade gold • Existing drill results support high grade potential, including: – 7 metres at 77 g/t – 5 metres at 14 g/t – 9 metres at 11.9 g/t – 9 metres at 10.5 g/t – 4 metres at 14.5 g/t

10 kilometre mineralised Bullabulling Trend not yet fully explored • Resource upgrade underway at Gibraltar – 24 new drill holes – significant intercepts outside existing resource • Resource estimate underway for Geko* – upgrade of historic resource to JORC – supported by BGL confirmation holes • Geophysics has identified potential for an east dipping limb, parallel to the current west dipping Bullabulling deposit • Near-term exploration will focus on targets that can contribute to the PFS

Base case production rate of 7.5 million tonnes per annum • Approximately 200,000 ounces per annum • Initial mine life of 10 years targeted • The deposit is amenable to high tonnage, bulk mining techniques • Low stripping ratio ~ 3:1 • Conventional CIL process flowsheet achieves high gold recovery • No heritage, ethnographic or environmental impediments identified • First production scheduled for 2015

Over 110,000m of diamond and RC drilling completed since acquisition • Significant resource growth achieved – 680% increase in two years • Majority of resource elevated to Indicated category • Independent sign-off on resource by leading resource consultancy Company Presentation – June 2012 Bullabulling Gold Project Resource Estimate Deposit Class Tonnes (Mt) Grade g/t Contained Ounces Bullabulling Laterite Inferred 1.6 0.89 46,000 Bullabulling Primary Indicated 72.1 0.92 2,132,000 Inferred 29.0 1.10 1,026,000 Bullabulling Total 102.8 0.96 3,204,000 Gibraltar Inferred 4.5 1.12 162,000 Project Total 107.3 0.97 3,366,000

12,000 historic drill holes – average hole depth only 34 m • 370,000 oz produced – predominantly by Resolute in mid1990’s – average grade 1.45 g/t – closed with gold price at $350/oz • Deepest pit is only 80 m • Previous mining represents only 10% of current resource • Prior mining records have provided valuable technical data

100% owned by Bullabulling Gold Limited • Located in Western Australia’s Eastern Goldfields 60 km west of Kalgoorlie • 3.4 million ounces of JORC compliant gold resources on granted Mining Leases • Significant resource growth potential • Amenable to large scale bulk tonnage mining and conventional CIL processing • Well serviced by existing public infrastructure • Pre-feasibility Study underway

Listed on the ASX (ticker BAB) and AIM (ticker BGL) in March 2012 • 289 million fully paid shares on issue • 10.9 million unlisted options • Effective cash balance end of March quarter 2012 – A$11.3 million

# of Trades 7 Vol Sold 0 Vol Bought 2,727,002

The Russia-focused gold miner, Trans-Siberian Gold, says it is still struggling with poor ore quality at its operations in the Kamchatka peninsula in Russia's far east. The company now proposes to introduce a technique known as shallow hole blasting to increase the amount of gold in the rocks that are sent for processing. The company now estimates that 2012 production will be 31,000 ounces of gold and 48,500 ounces of silver

Aircraft leasing firm Avation says it expects revenues for the 12 months ending on June 30th to come in around 30% ahead of the prior year at £21m, while aircraft assets will be at $218m, a 60% year on year rise. The stock was up 0.5% in afternoon trading.

Drug firm SkyePharma says its development and marketing partners Kyorin Pharmaceutical has successfully completed phase III clinical studies in Japan for the flutiform asthma drug. The companies can now begin regulatory filing with the Japanese authorities on schedule

The resources investment firm Creon Resources is to raise 12.1m pounds from an open offer, with around 2.4bn shares up for sale at 0.5p per share, a 1.5p discount to the share price at the close yesterday. Jeswant Natarajan, Chief Executive Officer of Creon, commented: 'Today's announcement...is extremely positive news for Creon given its difficult historic trading performance since its inception, and provides the directors with a number of possibilities in executing its investment strategy in the oil and gas infrastructure sector

Positive Points: •Excluding fuel and non-recurring items, constant dollar net cruise costs per available lower berth day ("ALBD") decreased by 2.2%. •For the last seven weeks, booking volumes excluding Costa had increased by 8% versus the prior year, with booking volumes for Costa over the same time period are up 25%. •Management forecast full year 2012 non-GAAP diluted earnings per share in the range of $1.80 to $1.90 compared to its March guidance range of $1.40 to $1.70 per share. •Management again reinforced what it believed to be the long-term fundamentals of the business. Management noted that it was "pursuing multiple opportunities to develop emerging cruise markets including positioning a second Costa ship in China and through a series of Princess cruises dedicated to the Japanese market in 2013." •Carnival dominates the global cruise market, benefiting from strong brands. •The group remains focused on strategic growth through the addition of new ships. Three new ships were delivered during the second quarter.

Negative Points: •Profitability at the group has declined compared to Q2 2011. Revenue fell 2.3% to $3.54 billion. •The company previously encountered two incidents within a six week period. The Costa Concordia capsized after hitting rocks off the Italian island of Giglio. A blaze on board the Costa Allegra caused the power supply to fail. •Management expects non-GAAP diluted earnings for the third quarter 2012 to be in the range of $1.42 to $1.46 per share versus 2011 non-GAAP earnings of $1.69 per share. •The price of fuel remains a major cost to the company. Fuel prices increased by 12% compared to Q2 2011. Currency movements do on occasion also work against the company. •Carnival remains exposed to political uprisings and natural events such as the prolonged conflict in the Middle East and North Africa regions and the earthquake in Japan. •Consumer headwinds for many of the group's core markets remain, including government austerity measures, rising taxes and wage increases which are below the rate of inflation.

Financial Highlights: •Revenues declined to $3.54 billion from $3.62 billion in Q2 2011. •A profit of $14 million or two US cents a share were reported, down from $206 million, or 26 cents a year earlier. The most-recent quarter included $145 million of unrealized losses on fuel derivatives. •Adjusted earnings of 20 US cents a share were reported, down from the 26 cents seen in Q2 2011.