Ian Smith, CEO of Newcrest Mining Limited

Newcrest's stated strategy of developing large, long life mines or smaller high margin mines, which are low on the cost curve, has shaped the operating mine portfolio. Newcrest currently has five operating mines – four located in Australia and one in Indonesia.

All mines are based on the conversion of exploration successes into efficient and cost effective mines. The company has a demonstrated track record of developing and commissioning high quality large scale mines (Cadia Hill, Ridgeway & Telfer) and small scale gold mines to capitalise on high grade deposits (Gosowong, Toguraci & Cracow).

A re-affirmation of the strategy's success is highlighted by its cash costs which rank in the lowest quartile among global gold producers.

Botswana Focus with Dan O'Neill of Diamonex Limited and Brad Sampson, MD of Discovery Metals

Diamonex is focused on developing the Lerala diamond resource that lies within a region of Botswana and South Africa that produces 30% of the world's diamonds by value (over US$4.5 billion/pa). The project comprises five diamondiferous kimberlite pipes that were discovered in the late 1980's. The Indicated Diamond Resource to a depth of 110m from surface is 13.5 million tonnes at a grade of 27.4 carats per hundred tonnes, representing approximately 3.7 million carats of diamonds. Considerable potential exists to further increase the total resource at depth in the existing pipes and through planned exploration on several priority targets close to the existing project. Diamonex has completed a feasibility study and commenced development of this project. First production is targeted for first quarter 2008 at 330,000 carats pa and a capital cost of A$20M.

Discovery Metals is concentrating on the assessment of the Maun Copper Project in NW Botswana and the Dikoloti Nickel Project in NE Botswana. The inferred copper resource at the Zeta and Petra prospects at Maun have recently increased by 60% to 32.5 million tonnes at 1.4% Cu equivalent. The company plans to complete the pre-feasibility study for the Maun Copper Project by the end of the first quarter 2008. The Dikoloti Nickel Project covers an area surrounding the nickel deposits of BCL Limited in the Selebi-Phikwe region of NE Botswana and occurs within 45km of BCL's concentrating and smelter facilities, the largest nickel processing facility in Africa. Dikoloti currently has an Inferred Resource of 4.7Mt @ 0.7% Ni and 0.5% Cu at a cut-off of 0.5% Ni and is at an early stage of exploration.