DGR GLOBAL LIMITED — Interim / Quarterly Report 2014

Jul 16, 2014

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D G R G L O B A L L I M I T E D A C T I V I T I E S R E P O R T | J U N E 2 0 1 4

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Quarterly Report
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Quarter Highlights

Armour Energy Ltd | ASX: AJQ – DGR 25% - 75m Shares |

• Drilling of the Otway-1 well to commence when Victorian Government approval received. The Otway-1 well is located in close proximity to the Iona gas processing plant[1] .

• New technical data further derisks the extensive shale play in ATP 1087, Queensland – world class Total Organic Carbon (TOC) content in Lawn and Riversleigh shales; gas analysis from Egilabria 2 well shows high methane and very low CO₂; and confirmed gas desorption from Lawn and Riversleigh shale cuttings².

Orbis Gold Ltd | ASX: OBS – DGR 15% - 39m Shares |

• An impressive maiden resource estimate (indicated and inferred) at Natougou and Nabanga was released by Orbis Gold on 5 August 2013 and further details are available on the ASX or company website www.orbisgold.com.au[3] .

• A scoping study on Natougou (the results of which were announced by OBS to the ASX on 15 October 2013) indicate development will deliver a very solid economic return[4] .

• Numerous drill results for the 2014 field season indicate potential to incorporate additional high grade gold mineralisation into the early stages of the mine schedule currently being assessed in detailed development studies of the Natougou gold deposit[5] .

• New highly prospective gold drill targets defined in the Bantou project area 1 km south and south-west of the Bantou gold deposit and “IP” geophysical survey defines 30 strike kilometres of new gold targets at the Safia prospect[6] .

▪ Multiple new gold mineralised structures discovered in the initial reconnaissance drilling program at the Tankoro prospect within the Bantou project area[7] .

SolGold plc | LSE: SOLG – DGR 8.4% - 54.5m Shares |

▪ Focus on potential high grade world class copper gold porphyry system at Cascabel in Ecuador. Cascabel is close to the capital and ports, low elevation, has adequate water supplies and access to power.

▪ Final assay results from drill hole CSD-13-005 confirm discovery of large scale, high grade porphyry system at the Alpala Prospect. The hole terminated at 1370m whilst still in mineralisation, at limit of rig capability in difficult ground conditions. The bulked intersection and most significant long high grade intersections were announced to the London Stock Exchange during last quarter and can be viewed on the LSE or company website www.solgold.com . au[8] .

• Drilling of Stage 2 hole CSD-14-006 was completed at 1401m on 20 April. The subsequent assay results with long intersections of low grade copper and gold confirmed that the hole had passed through the margins and to the east of the Central target zone as indicated by more recent 3D Inversion Magnetic modelling[9] .

• Drilling of hole CSD-14-007 (located 150 m N-NW of Hole 5) was at more than 1250 m on 23 June, and had encountered over 700 m of visible copper sulphide mineralisation to that date, with initial assays yet to be received[10] .

▪ During the quarter SolGold announced a USD150,000 exploration program to commence next quarter at the very prospective Kuma copper gold project in the Solomon Islands[11] .

IronRidge Resources Ltd | 46% DGR Owned |

• Tchibanga North exploration permit granted, bringing total tenure at Tchibanga and Belinga Sud to 5,400km[2.]

• Tchibanga is less than 70 km from the port of Mayumba, with a low capex initial small scale open cut mining operation with road haulage to the port subject to desk top study.

• Documentation and admission document for LSE AIM listing and capital raising to fund exploration drilling well advanced. South African mining specialist Assmang to invest in IronRidge to take a cornerstone 19.9% holding[12] .

Navaho Gold Ltd | ASX: NVG—DGR 21.5% - 59m Shares |

• Review and rationalisation of mineral exploration projects on going for key gold/silver projects in Nevada and New Mexico, USA.

• Subsidiary NavGas Pty Ltd named as preferred tenderer for ATP 1183 Roma Shelf in Qld[13] . The Roma Shelf is considered highly prospective for oil, gas and condensate and surrounds existing producing oil fields with close proximity to existing pipeline infrastructure.

• Term Sheet executed for proposed scrip based acquisition of prospective thermal and metallurgical coal projects in Argentina[14] .

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D G R G lo ba l L im i te d Ac ti v itie s Re port for Jun e 2 01 4 Qu ar t er | P a ge 1

Quarter Highlights

Aus Tin Mining | ASX:ANW—DGR 12.5% - 83.7m Shares |

• Maiden JORC resource estimate confirms Taronga as a world class tin project .

• The details of the maiden resource (79% indicated) can be viewed in the ANW ASX announcement on 5 August 2013 or on the company website www.austinmining.com.au . Initial metallurgical testing has delivered encouraging copper and silver recoveries[15] .

• Metallurgical flow sheet completed for Taronga prefeasibility study. Ore described as coarse grained, having simple metallurgy, and highly amenable to pre-concentration[16] .

• The Pre-Feasibility Study released to the ASX on 7 April 2014 confirms the technical and economic viability of the Taronga Tin Project and highlights areas of potential economic upside[17] .

DGR Global— New Corporate Development Programs

• Pinnacle Gold – new EPM application lodged over prospective gold prospects situated under cover between the former Black Jack and Mt Leyshon Mines near Charters Towers.

• Hartz Rare Earths - two large project areas in Queensland – Westmoreland and South Boulia – prospective for Uranium, Gold and Heavy and Light Rare Earths. Four EPMs at South Boulia Project now granted –seed raising and commencement of exploration proposed.

• Coolgarra Minerals – first of three EPMs now granted – prospective for chromite, gold and antimony

• DGR Global – Assessment of gold resource remaining in the former Shamrock Mine tailings dam well advanced. DGR retains the former processing site and ball mill as a basis for potential retreatment of tailings

Footnotes:

1 AJQ ASX Release 21/2/14 2 AJQ ASX Release 27/5/14 3 OBS ASX Release 5/8/13 4 OBS ASX Release 15/10/13 5 OBS ASX Release 2/6/14 (latest) 6 OBS ASX Releases 29/1 and 17/2/14 7 OBS ASX Release 9/5/14 8 SOLG LSE Releases 14/1, 25 and 27/2, 3 and 24/3/14 9 SOLG LSE Releases 2/5 and 20/5/14 10SOLG LSE Releases 13/6 and 23/6/14

11SOLG LSE Release 13/5/14 13NVG ASX Release 27/3/14 15ANW ASX Release 26/8/13 17ANW ASX Release 7/4/14

12DGR ASX Releases 28/4 and 30/6/14 14NVG ASX Release 2/5/14 16ANW ASX Release 23/10/13

DGR Global Creates Resource Companies

During the quarter DGR Global continued to advance its objective to become a diversified global resource project generator and investment company.

DGR Global generates its own large scale resource exploration projects directly through the skills and experience of its accomplished team of explorationists. Most resource investment companies purchase their investment stakes at a high cost with restricted scope and low diversity and it is this important difference that gives DGR Global its strong competitive edge.

Figure 1: DGR Global Group Corporate Structure at 30/6/14.

Many exploration companies tend to prematurely focus on the definition of a restricted resource and/or development without the scope for world class discoveries. In contrast, DGR Global’s philosophy is to secure provincial tenure positions, prospective for commodities with a high demand growth profile, which attract globally diverse capital funds. The company adopts a lateral and creative approach in the identification of both the commodity and exploration target.

DGR Global exploration projects tend to be very large, targeting new provinces with the potential to make world-class discoveries. The exploration concepts are often novel.

While increased metal prices and advances in technology can turn former sub-economic deposits into viable projects, DGR Global Projects frequently emerge from detailed reassessment and reinterpretation of large databases with a new perspective.

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Figure 2

The Resource Factory

In the past, DGR Global Directors and Managers have applied new exploration models to extensive tenement areas which have contributed to the identification of new mineral provinces and the discovery of nationally significant resources.

DGR Global’s strategy to independently finance, manage and list its key assets on recognised stock exchanges is designed to deliver negotiability for its key assets, provide less dilutive funding of forward exploration programs and deliver expanded and focussed Project Management Teams independent of DGR Global.

DGR Global holds key equity positions in its subsidiary companies after listing. As shown in the DGR Global Group Corporate Structure (see Figure 1) at 30 June 2014 DGR Global holds 25% ASX listed Armour Energy Ltd (ASX : AJQ) 9% AIM listed SolGold Plc (LSE: SOLG), 15% ASX listed Orbis Gold Ltd (ASX: OBS), 14% Aus Tin Mining Ltd (ASX: ANW) and 21.5% Navaho Gold Ltd (ASX: NVG). Figure 2 and Table 1 demonstrate how DGR Global continues to build value for shareholders.

Investment	Listed Code	Number of Shares	Number of Shares	Number of Optons / Warrants	Closing Share Price	Exchange	Market Value#
Lions Gate Metals Inc.	TSX-V:LGM		75,000		0.08	1.01	6,060
SolGoldplc	LSE:AIM: SOLG		54,517,440	-	0.078	1.83	7,781,819
Orbis Gold Ltd	ASX: OBS		39,000,000	-	0.40		15,600,000
Navaho Gold Ltd	ASX: NVG		59,037,518	-	0.003		177,113
Aus Tin Mining	ASX: ANW		83,687,100	-	0.006		502,123
Armour EnergyLtd1	ASX: AJQ		75,050,000	18,837,500	0.135		10,131,750
Total market value of DGR Global listed assets(excl cash)			34,198,865
Total DGR Global shares on issue			0.039 412,162,185
Value atributable to each DGR share			0.083
Table 1: Current Portolio and Market Valuaton of			Listed Assets held by DGR Global.

# Market value represents the market quoted price for listed investments at 10 July 2014.

1. The Armour Energy Ltd (“Armour”) options allow the Company to take up one ordinary share in Armour at an exercise price of $0.50. Options are fully vested and expire on 31 Aug 2014. On 10 July 2014, Armour options (ASX:AJQO) closed at $0.005.

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Iron, Titanium and Bauxite

IronRidge Resources Ltd (IRR), has been granted three Autorisation de Prospection (ATP) in Gabon: Belinga Sud, Tchibanga and Tchibanga North providing IronRidge with an exciting strategic direction in iron ore exploration.

Figure 4: Magnetic image (analytic signal) over the Belinga Sud ATP area showing high responses of potential iron formations and extensions of prospective geology to the south.

Belinga Project (CMEC/Gabonese Govt) —860Mt @ 63%Fe[17 ]

Whilst global iron ore markets are experiencing volatility, Australia’s largest producers continue to invest in exploration and development on the expectation of prices stabilising at sustainable levels of approximately USD120 per tonne which is based on the global cost curve and supply demand balance.

The location of the three tenements and proximity to known Iron Ore deposits is shown in Figure 3. Gabon is located on the central west coast of Africa, a region becoming increasingly recognised for iron ore prospectivity and host to numerous projects including Mbalam/Nabeba

Figure 3: IronRidge Project Locations in Gabon

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(Sundance ASX: SDL), Mayoko Moussondji (Equatorial Resources ASX: EQX) and Kango North (Apollo Minerals ASX: AON). Belinga Sud is located in eastern Gabon and Tchibanga is located in the south west.

The 3,027km² Belinga Sud ATP is strategically located immediately south of the concession hosting the Belinga Iron Ore Deposits, which contain an estimated combined 860Mt @ 63% Fe[18] . The Iron Ridge ATP contains a large tract of the greenstone belt that hosts the rich iron deposits less than 20km to the north.

Within this area there are mapped iron formations and several documented iron occurrences. Geophysical data highlights strong magnetic anomalies in the area and in particular a significant southern extension where an outlying greenstone belt is considered to be highly prospective for additional iron formations over a strike length in excess of 35km.

As shown in Figure 4 the magnetic image (analytic signal) over the Belinga Sud exploration tenement shows high responses of possible iron formations and extension of prospective geology to the south of Belinga and has presented several target areas .

During two completed field programs in 2013, limited surface sampling was undertaken at Massaha and Indombo with the Indombo Central area delivering very encouraging initial assays to 67% Fe. As shown, Indombo Central presents a high grade target with a strike potential of 6 kms, and Indombo South a further 5 kms. Based on an observed width of 3-400 m and an assumed depth of 50 m (not drilled) the Indombo target has potential for 600-800Mt grading 41-67%Fe with significant DSO.

This Exploration Target is conceptual in nature and there has been insufficient exploration to define a Mineral Resource under the JORC code and it is uncertain if further exploration will result in the determination of a Mineral Resource. An initial drilling program to provide proof of concept is being planned for later in 2014.

18Mining Journal, ’BHP looks set to bag Belinga Iron Project’ (Feb 10,2012) Page 10.

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The 1,990km² Tchibanga ATP and the 1,400km[2] Tchibanga North ATP are situated within the western limb of the Neoproterozoic Nyanga syncline, and incorporates both a significant magnetic anomaly and two iron occurrences. Outside of the ‘traditional’ greenstone iron formations, this target is founded on a different exploration concept—that of iron-ore development in younger iron formations underlain by carbonates.

Proof of concept is demonstrated by a number of iron occurrences at a similar stratigraphic level along the western limb of the syncline. The ATP is close to the coast and the port of Mayumba, and as such even a modest resource would represent a project of significant value to IronRidge.

IronRidge recently acquired Falcon Gravity Data in the Tchibanga area. Sampling and mapping has confirmed a correlation of the characteristic signatures provided by magnetics, gravity and topography data, including the ability to differentiate between hematite and magnetite resources (see Figure 5).

Noting a strong magnetic and gravity response similar to the known Milingui Iron Ore deposit to the north west of the Tchibanga Permit, IronRidge has completed an initial field exploration program in the Mont Pele area in the south eastern sector of the Tchibanga Permit.

As illustrated in Figures 6 & 7, the 2013 field program confirmed the presence of hematite grading up to 62% in banded iron formations (BIF) over at least 10km strike length.

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Figure 6: Weathered, laminated hematite collected at surface on the

Mont Pele

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Figure 7: Sample of high-grade canaga containing clasts of

hematised phyllite; Mont Pele

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Figure 5: Tchibanga and Tchibanga
North Tenements Falcon Gravity
Data Coverage
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DGR Global has also transferred an EL in the Central Lachlan Fold Belt near Bathurst, NSW to Archer Re- Hartz Rare Earths Pty. Ltd. sources. This EL contains an exciting gold-silver Project at Caloola which already has an historic (non-JORC) gold Rare Earths Uranium, Gold, Heavy and Light occurrence of 235,000 tonnes @ 2.5g/t Au. The deepest

historic drill hole CP10 stopped in mineralisation at 96m,

later assaying 14m of 3.86 g/t Au fr Hartz Rare Earths Pty Ltd is a wh o lly ownm 82 m e tres. d subsidiary of DGR Global. The company was formed with a clear During the quarter Archer completed a small RC drilling focus on Uranium (U3O8) and Rare Earth Elements (REEs). program at Caloola of 4 holes to 140 metres. The assay With a ban on uranium mining in Queensland and New results confirmed the historical drilling grades and thickSouth Wales for over 25 years (now lifted) there has nesses, and revealed a folded structure likely to indicate been little incentive for exploration. Hartz has a growing additional tonnages. The structural information obtained will greatly assist in planning follow up drilling programs. portfolio of exploration permits, with two large Project Areas in Queensland at Westmoreland and South Boulia (see Figure 8). Westmoreland is prospective for uranium and gold, and South Boulia for uranium, heavy and light rare earths, and base metals. Four EPMs at the South Boulia Project have now been granted and the company is raising seed capital to commence exploration during the current dry field season. Early field work is expected to deliver exciting drill targets.

At the South Boulia Project (see Figure 9) the southern EPMs cover over 45 kms of highly anomalous strike, directly along trend from already reported high values of heavy and light rare earths – Dysprosium Oxide, Neodymium Oxide, Praseodymium Oxide and Yttrium Oxide, along with high Strontium values. The northern EPMs cover the Toolebuc formation which at this

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Figure 8: Hartz Project Areas in Queensland

Marodian is probably the lrgest untested copper molybdenum gold porphyry system in the south west Pacific. Within the 30 – 40 km² Cu Mo and Au zone (see Figure 9–use Fig 8 from Sep report) there are widespread areas of breccia vein stockworks and disseminations of generally low grade but with locally richer patches that have supported small underground mines in the past. Historical surface geochemistry is incomplete, covering less than half the system, and rarely tested for gold. Porphyry copper deposits are normally tested with holes of 300m or deeper (due to the scale of the deposits) but no holes at Marodian are deeper than 100m and almost all are less than 60m. The deepest previous drilling (by the Queensland Government) tested the underground workings around the former Lug I Noor mine at the western extremity of the Marodian system. These holes gave variable results but verified the existence of high grade structures within widespread sub economic grades.

location has the strongest and largest airborne uranium radiometric anomaly in Queensland. The South Boulia Project is situated across the massive Burke River fault zone, and there is significant evidence that in this area the Toolebuc Formation ancient shoreline has created a redox and phosphatic chemical trap that shows significant enhancement of metal concentrations in highly sheared fault zones.

Figure 9: Hartz South Boulia Project Area (Airborne uranium over digital elevation image)

Figure 5

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DGR Global has also transferred an EL in the Central Lachlan Fold Belt near Bathurst, NSW to Archer Resources. This EL contains an exciting gold-silver Project at Caloola which already has an historic (non-JORC) gold occurrence of 235,000 tonnes @ 2.5g/t Au. The deepest Assessment of Shamrock Tailings historic drill hole CP10 stopped in mineralisation at 96m,

later assaying 14m of 3.86 g/t Au from 82 metres.

During the quarter, the company commenced During the quarter Archer completed a small RC drilling an assessment of the gold resource remaining program at Caloola of 4 holes to 140 metres. The assay in the tailings at the former Shamrock Mine. An results confirmed the historical drilling grades and thickextensive drilling program was undertaken usnesses, and revealed a folded structure likely to indicate ing equipment mounted on a pontoon (see Figadditional tonnages. The structural information obtained ure 10), and the depth of tailings was ascerwill greatly assist in planning follow up drilling programs. tained and plotted on an orthophoto (see Figure 11). Sixty one holes were drilled and samples sent for assay. It is expected that sufficient work has been undertaken for the company to D’Aguilar Gold holds achieve a JORC indicated resource. 35.2 million shares As shown in the following Figure 12, DGR Glob-representing 15.6% al has retained the former Shamrock Mine of Solomon Gold plc. processing site and ball mill as the basis for a potential tailings retreatment plant. There are also gold resources remaining in the former Shamrock Mine which could be processed through a new plant facility.

Figure 10: Drilling pontoon on the Shamrock Tailings Dam

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Marodian is probably the lrgest untested copper molybdenum
gold porphyry system in the south west Pacific. Within the 30 –
40 km² Cu Mo and Au zone (see Figure 9–use Fig 8 from Sep re-
port) there are widespread areas of breccia vein stockworks and
disseminations of generally low grade but with locally richer
patches that have supported small underground mines in the
past. Historical surface geochemistry is incomplete, covering less
than half the system, and rarely tested for gold.
Porphyry copper deposits are normally tested with holes of 300m
or deeper (due to the scale of the deposits) but no holes at
Marodian are deeper than 100m and almost all are less than
60m. The deepest previous drilling (by the Queensland Govern-
ment) tested the underground workings around the former Lug I
Noor mine at the western extremity of the Marodian system.
These holes gave variable results but verified the existence of
high grade structures within widespread sub economic grades.
Figure 11: Orthophoto of Shamrock Tailings Dam showing drill hole locations and thickness of tailings
Figure 5
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D G R G L O B A L L I M I T E D A C T I V I T I E S R E P O R T | J U N E 2 0 1 4 kkkkjkj

QUARTERLY

REPORT Corporate Information Directors

William Stubbs (Chairman) Nicholas Mather (Managing Director) Brian Moller Vincent Mascolo

Company Secretary

Karl Schlobohm

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Issued Capital

At 30 June 2014, DGR Global Ltd had the following securities on issue:

• 412,162,185 ordinary shares

• 300,000 (unlisted) 28 cents options expiring 28/02/15

• 5 million (unlisted) 28 cent options expiring 24/04/15

Exploration Manager

Neil Wilkins

General Manager

Greg Runge

Registered Office and Head Office

D’Aguilar Gold holds 35.2 million shares

DGR Global Limited

Level 27, 111 Eagle Street Brisbane QLD 4000

Phone:+ 61 (0)7 3303 0680 Fax:+ 61 (0)7 3303 0681 representing 15.6% Website: www.dgrglobal.com.au of Solomon Gold plc.

Website: www.dgrglobal.com.au

Australian Stock Exchange (“ASX”)

ASX Code: DGR (Ordinary shares)

Australian Business Number

ABN 67 052 354 837

• 4.63 million (unlisted) 6 cent options expiring 01/10/14

• 12 million (unlisted) 12 cent options expiring 30/11/16

• 11 million (unlisted) 12 cent options expiring 29/5/17

• 500,000 Convertible Notes at $1.00 each

Shareholding Enquiries

Link Market Services Limited manages DGR Global Ltd’s share registry.

If you would like to monitor your shareholding online, you can do so by visiting Link Market Services website:

www.linkmarketservices.com.au and follow the instructions.

For issuer-sponsored shareholders, if you change address, or if you have any other queries regarding the details of your shareholding, please contact the Company’s share registry directly:

Internet Address

Link Market Services Limited

All Company announcements, reports and presentations are posted on our website www.dgrglobal.com.au If you would like to receive news releases by email, please send email to info@dgrglobal.com.au with the subject “email alerts” or register your details on our website by clicking “Contact Us” and entering your details.

Locked Bag A14 SYDNEY

Phone: 1300 554 474

Figure 12: Former Shamrock Mine Tailings Dam and processing site, with Allis Chalmers Ball Mill c/w 600 HP electric motor and reduction gear box

Exploraton and Mining Tenements

DGR Global interests in mining and exploration tenements at the end of the Quarter are as shown in the attached Appendix.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information complied by Nicholas Mather B.Sc (Hons) Geol., who is a Member of the Australian Institute of Mining and Metallurgy. Mr Mather is employed by Samuel Holdings Pty Ltd which provides certain consultancy services including the provision of Mr Mather as the Managing Director of DGR Global Ltd and a Director of its subsidiaries and associates. Mr Mather has sufficient experience which is relevant to the style of mineralisation and type of deposit being reported and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’ (the JORC Code). Mr Mather has consented in writing to the inclusion in this report of the matters based on the information in the form and context in which it appears.

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Appendix

30-June-2014

DGR Global - Group Mining and Exploraton Tenements

Tenement	Ty	**pe **	Principal Holder
ML 3678 ML 3741 ML 3749 ML 3752 ML 3753 ML 50059 ML 50099 ML 50148 MDL 409 EL 6652	Minin Mineral De Lice Explorato	g Lease " " " " " " " velopment nce n Licence	DGR Global Limited " " " " " " " " "	Qld, Australi Qld, Australi Qld, Australi Qld, Australi Qld, Australi Qld, Australi Qld, Australi Qld, Australi Qld, Australi NSW, Austra
EPM 15134	Exploraton Per	mit for Minerals	"	Qld, Australi
EPM 15238 EPM 18586 EPM 19379 EPM 19411 EPM 19815		" " " " "	" " Archer Resources Limited¹ " "	Qld, Australi Qld, Australi Qld, Australi Qld, Australi Qld, Australi
EPM 15134		"	Barlyne Mining Pty Ltd²	Qld, Australi
EPM 18451 EPM 18808 EPM 19087		" " "	" "	Qld, Australi Qld, Australi Qld, Australi
EPM 25157		"	"	Qld, Australi
EPM 25189		"	"	Qld, Australi
EPM 18534 EPM 19164		" "	IronRidge Resources Limited³ "	Qld, Australi Qld, Australi
EPM 25115		"	"	Qld, Australi
ATP Belinga Sud ATP Tchibanga ATP Tchibanga Nord EPM 16260 EPM 16261 EPM 25158 EPM 25159 EPM 25160	Authority t Exploraton Per Exploraton Per	o Prospect " " mit for Minerals " mit for Minerals " "	IronRidge Gabon S.A.⁴ " " Eastern Exploraton Pty Ltd⁵ " Hartz Rare Earths Pty Ltd⁶ " "	Gabon, Afric Gabon, Afric Gabon, Afric Qld, Australi Qld, Australi Qld, Australi Qld, Australi Qld, Australi
EPM 25295		"	"	Qld, Australi
EPM 19270		"	Coolgarra Minerals Pty Ltd⁷	Qld, Australi
EPM 19625		"	Pinnacle Gold Pty Ltd⁸	Qld, Australi
		ctng Licence "	DGR Zambia Limited⁹ "	Zambia, Afri Zambia, Afri

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Change in ownership % (eg. Farm-in) or transfer during the quarter

Surrendered, Expired or Sale/Disposal during the quarter