Akyem Update

Status Update (85%)

• Development Decision by Year-End 2004

• First Production Expected 2007E

• Updating Feasibility
  • Will determine production, total cash costs and pre-production capital
  • Similar to Ahafo

• Current Estimates – Equity production 380,000 - 425,000 oz
  • Average total cash costs $200 - $220 per ounce
  • Average mining rate ~100,000 tons per day
  • Pre-production equity capital $360 million - $410 million

• Increased Life of Mine from 13 Years to 15 Years

• Estimated Employment ~600 People

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