New Guinea Gold Corp. provided the update on the company's operations and strategies. Pursuant to the recommendation of the Mining Advisory Council; the Minister for Mining, the Honorable Mr. Byron Chan has now executed the formal instruments renewing the company's expiring Mining Leases and Mining Easement (ML 122 and ME 70) and its exploration license (EL 1140). The Mining Lease 122 has been renewed and extended for a further ten years with a new expiry date of 15 February 2022. Mining Easement 70 has been renewed for a period of 8 years and now expires on 15 February 2020. The Exploration License (EL) has been granted for a further two years as is standard in Papua New Guinea and now expires on 10 May 2013. The renewal of the MLs contained several ministerial conditions, which reinforce the States and company's obligations under the applicable legislation. Two of those conditions are material in nature: the company is required to change its processing method within twenty- four months from the date of approval to a 'new and more efficient ore processing system'. This is consistent with the company's current strategy and plans are underway to accommodate such a change should the Definitive Feasibility Study produce a positive economic outcome; and that the company enters into discussions with the State's representatives to assess the State's participation in the Mining Lease.