Ray Shorrocks, the chairman of Republic Gold (ASX: RAU) outlines to shareholders the company's transformation over the past year, including the good deal it received.

1. Chairman’s Address
Republic Gold
25 November 2013
Good Morning Ladies and Gentlemen
ASX:RAU
My name is Raymond Shorrocks, I am the Chairman of Republic
Gold Limited and will be chairing this meeting.
Prior to our CEO Mark Gillie’s presentation I would like to make a
few comments.
Registered Office
Level 3., 70 Pitt Street
Sydney NSW 2000
ACN 106 399 311
P +61 2 9220 9500
F +61 2 9220 9522
info@republicgold.com.au
www.republicgold.com.au
Directors
Ray Shorrocks
Mark Gillie
CEO
Dr David King
Peter Wicks
Chairman
Managing Director and
Non-executive Director
Non-executive Director
Company Secretary
Nick Geddes
Australian Company Secretaries Pty Ltd
Level 3, 70 Pitt Street
GPO Box 4231
Sydney NSW 2001
Australia
Contacts
Republic Gold
(02) 9220 9500
info@republicgold.com.au
Ray Shorrocks
P +61 9220 9500
Mark Gillie
P+27 82 888 9977
The 2012/13 year has been transforming for the shareholders of
Republic Gold limited. Due to the ever increasing turmoil in Bolivia
and a reluctance by the international equity markets to support the
Gold project in Bolivia, the Board decided the best outcome for
shareholders was to sell the Amayapampa asset. Your Directors had
put an enormous amount of effort in to the project but country risk
and international markets meant it was impossible to continue. The
sale to Lion Gold Corp. proved to be a wise move and the
subsequent sale of their shares meant we received 10-15% above
the sale price. Lion Gold’s current share price is now substantially
lower.
The Board moved quickly and purchase a promising Gold portfolioin
Mozambique for cash and shares from African Stellar, Mark will
speak more on the progress of the project. I have personally visited
the site and am comfortable with the progress made….however we
would always like to move faster! All licences and permits have
been obtained and we look forward to an exciting 2013/14 year.
Republic has the benefit of a strong balance sheet post the
underwriting of the 31 October option exercise. We are thankful to
our underwriters as they provided over 90% of the capital post the
issue.
Your Directors are currently evaluating the best way forward and
the future strategies for the company. Meanwhile, the Mozambique
exploration licences will continue to be evaluated and explored with
the view that the optimum value will be extracted for shareholders.
On behalf of the Directors thank you for your continued support.
.Ray Shorrocks
Chairman