Dear Shareholder,
MDL is pleased to announce that during the week gold production commenced at the Sabodala plant with the pouring of the first gold dore bars.

The Sabodala plant has commissioned smoothly with no significant issues and is already operating above nameplate capacity. To date,
lower grade material has been used during the commissioning phase but with the satisfactory completion of commissioning now imminent, the plant will begin operating on the normal “run of mine ore” currently stockpiled on the ROM pad adjacent to the crusher.

Approximately one million tonnes of ore is stockpiled on the ROM pad and in excess of 80,000 ounces is contained in this material including some of quite high grade. This ore is currently passing through the plant at rates in excess of the design capacity of 2 million tonnes per annum and plant performance is very pleasing. Mining of the ore body continues apace and in a routine manner.

We continue to note significant tonnages of softer oxide ore being mined over and above expectations. MDL expects to produce approximately 160,000 ounces of gold to 31 December 2009.

MDL has, in little under four years, moved from the initial drill hole at Sabodala to production of the first gold at a major new production facility, an achievement of which we are very proud.

The board of MDL takes this opportunity to thank you, our shareholders, who have supported us by virtue of your patience and financial support as we look forward to a period of strong growth and financial performance to justify your faith in the management of MDL to bring the Sabodala project to fruition. Additionally, we wish to thank our dedicated employees who have worked tirelessly, often in very trying circumstances, these past four years to achieve this outstanding result.

We wish also to extend our appreciation to the Government of Senegal which has worked closely with the company and its local personnel to ensure that this, the first new substantial mining operation in the country for many years, has been achieved in a manner of which all Senegalese can be proud.

Nic Limb
Chairman

SABODALA POURS GOLD PROCESSING PLANT
On Sunday, 15 March, two modest bars totaling 8.9105kg were smelted and poured on site marking the first production bullion to be produced at Sabodala. Sabodala Gold Operations SA is on schedule to produce 160,000 ounces of gold in calendar 2009.
The Sabodala gold plant commissioning has proceeded smoothly with the plant currently operating at rates well above the nominal rate of two million tonnes per year.