Directors’ Report Terence Sean Harvey BA MA LL.B MBA  Colin John Carson CPA FCIS Executive director (Appointed 24/10/2003) Non-executive director (Appointed 02/09/2009) Neil Christian Fearis LL.B. (Hons) FAICD F FIN Non-executive director (Appointed 26/05/2004) Susmit Mohanlal Shah BSc Econ CA (Appointed 24/10/2003) Mr Neil Fearis has over 30 years of experience as a  commercial lawyer in the UK and Australia. He practices  principally in the area of mergers and acquisitions,  takeovers, public floats, and other forms of capital  raising and is a member of several professional bodies  associated with commerce and the law. Mr Fearis serves as Chairman of the Company’s audit committee and a member of the remuneration  committee. During the past three years he has also  served as a director of the following listed companies: Other current directorships Carnarvon Petroleum Limited appointed 30 November 1999 Former directorships in the last 3 years Mr Susmit Shah is a chartered accountant with over 25  years of experience. Over the last 17 years, Mr Shah  has been involved with a diverse range of Australian  public listed companies as a director or in company  secretarial and financial roles. Mr Harvey serves on the Company’s audit committee. During the past three years he has also served as a  director of the following listed companies: Mr Sean Harvey has extensive experience in investment banking and the resources sector and  brings valuable experience in capital markets to the  board to assist the Company as it seeks to broaden  global market awareness of its growth into a West  African gold producer. Mr Harvey holds an Honours  BA degree in Economics and Geography and an MA in  Economics, both from Carleton University; an LLB from  the University of Western Ontario; and an MBA from  the University of Toronto and is a member of the Law  Society of Upper Canada. WEST AFRICA’S NEWEST LARGE GOLD PRODUCER Mr Bohm serves on the Company’s remuneration  committee. During the past three years he has also  served as a director of the following listed companies: Herencia Resources plc.  appointed 14 June 2006 Other current directorships Mr Colin Carson has served as a director and company  secretary of a number of Australian public companies  since the early 1980s. As executive director of Perseus,  Mr Carson is responsible for the Company’s joint venture  negotiations, corporate and legal matters. During the  past three years he has also served as a director of the  following listed companies: Other current directorships 16 Caspian Oil & Gas Limited appointed 10 October 1994  Manas Resources Limited appointed 17 October 2007 Allied Gold Limited  appointed 11 March 2010 Andina Minerals Inc  appointed 29 December 2004 Victoria Gold Corporation  appointed 31 July 2007 Serabi Mining plc  appointed 30 March 2011 Moto Goldmines Limited appointed 26 May 2005 and resigned 15 October 2009 Australian Solomons Gold Ltd appointed 6 October 2006 resigned 24 November 2009 Nord Resources Corp  appointed 21 December 2007 resigned 17 June 2010 Polaris Geothermal Inc appointed June 2004  resigned June 16, 2009 Other current directorships Former directorships in the last 3 years Kresta Holdings Limited appointed November 1997, resigned 31 December 2009 Liberty Resources Ltd appointed 25 June 2007,  resigned 10 November 2008 Magma Metals Limited  appointed 8 October 2009 Tiger Resources Limited appointed 26 May 2011