EML PAYMENTS LIMITED — AGM Information 2007

Nov 12, 2007

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Chairman’s Address

Delivered at the 2007 Annual General Meeting on Tuesday 13[th] November 2007 at 176 Greenhill Road, PARKSIDE, South Australia

Ladies and Gentlemen,

Before turning to the business of today’s meeting I would like to review the Company’s exploration strategy. It is important to understand our approach as exploration is a high risk business and economic greenfield discoveries are not made all that frequently. Trevor Ireland, our managing director, will review Australasia Gold’s projects in detail later this morning.

As described in the 2007 Annual Report, the Company in its first full year of operation as a publicly listed company, aggressively pursued its exploration strategy. That strategy is to asses the Company’s exploration projects to key decision points (points at which it is judged that the risk of economic discovery is either significantly reduced or enhanced) in a manner that is as technically and financially efficient as possible.

A good example of this approach is the Wetherstones alluvial gold project in the Otago Region of New Zealand. At Wetherstones additional drilling indicated that although alluvial gold is widespread at the predicted geological horizon it is too low grade to warrant further evaluation and expenditure; and the project was terminated. A key point is that the cost of reaching this decision was under $200,000. Our other Otago tenements, however, do justify further exploration and have been farmed out.

Key decision points were reached at each of our remaining projects as a result of undertaking carefully planned exploration. At Glencoe, in the Northern Territory, geological and geophysical work confirmed depth extensions of mineralised structures and also indicated additional, untested, potentially gold bearing, shallower structures. As a result of this positive key decision point these targets are scheduled to be drill tested during the 2007 dry season. The drilling will also provide samples for metallurgical testing, geotechnical data and knowledge regarding the continuity of the gold mineralisation, all of which will allow more effective evaluation of possible development strategies.

Work advanced on our other Pine Creek regional projects as described in the Annual Report and key decision points were reached at Lucknow in New South Wales and Murninnie in South Australia

To support our exploration strategy it is critical to maintain our exploration project portfolio and to this end some 30 projects were evaluated during the year, both in Australia and overseas. The Murninnie purchase resulted from this initiative.

As I have said in the Annual Report, we firmly believe that technically sound and financially efficient evaluation of a queue of quality exploration projects will ultimately be successful. To balance our project package we are always vigilant to the opportunity of acquiring a more advanced project and will continue to be so.

Our small, but effective, exploration and management team has the experience to drive our strategy and our cash reserves provide adequate funding support.

In conclusion, I would like to record my very sincere thanks to my fellow directors for their generous support and sound advice and our collective and special thanks to Trevor Ireland, Managing Director, and his small, but impressive team for their dedicated efforts throughout the year.

John Roberts, Chairman