GOLD LOAN FACILITY

During the quarter, Kingsgate’s Thai subsidiary, Akara Mining Limited, executed a US$100 million (baht denominated) syndicated
loan facility that completes its funding requirements for the expansion of its Chatree Mine to over 5 million tonnes per annum
ore throughput. The participants in the syndicated loan facility are CIMB Thai Bank Public Company Limited (CIMB), the Bangkok
branch of Sumitomo Mitsui Banking Corporation (SMBC) and Investec Bank (Australia) Limited (Investec). Participation is US$42
million, US$40 million and US$18 million respectively. CIMB and SMBC are Mandated Lead Arrangers with CIMB also acting as
Facility and Security Agents. Investec is the Arranger and Technical Agent. The syndicated loan facility is a four year amortising
loan with equal half yearly repayments commencing on 31 March 2012. The loan documentation contains no mandatory hedging
requirements. In conjunction with the syndicated loan facility, Kingsgate’s existing one year standby A$60 million facility with
Investec, that has been used as a bridge while the expansion funding was completed, is being replaced by a three year US$50
million revolving facility with Investec.