Export Program updates

To maintain the Export Program opportunities that have been received, the company has started negotiations with neighboring Landowners to the existing Rigo Timber Authorities to source greater logging volumes. Those negotiations are based on a 5 to 10 year agreement rather than the current short term agreements. We expect these agreements to conclude shortly.

Clarification

For the sake of clarification the Executives and Management Personnel have never sold a share in DLCR, they have never been repaid any loans that have made to the company, and also note that they are continuing to fund the ongoing financial requirements of the company. The recent sales have been a result of conversions by GPL via notes issued as detailed in the K’s and Q’s filed over the last 3 years as confirmed by Schedule 13G SEC filings.

Export Initiatives

Our export initiative is well under way, we are holding rolling orders for 2 containers a month for export to Australia, the importer’s agent has inspected the quality of our timber in PNG and has confirmed the quality of the timber samples exceeds their grade requirements. We are currently stockpiling product to meet that demand. First shipment will be for 1 container.

Filings up to date

After filing the 10K and 10Q we are now up to date with our filings, and the companies Directors can now concentrate on operations in PNG.

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