Ann: Quarterly Activities and Cashflow Report, page-17

Helmenesh, according to the Development Plan released 30 Sept, "Mine Management Plan to be submitted to the Northern Territory Government in the first week of October."

If that deadline was met, we should expect a response as early as this week since NT have 28 days to respond. OK, the response could be something like 'more information required', but I think that given this is a reasonably straightforward application, there should be no delays.

The big question is whether we will actually start mining this year even if it is just to stockpile ready for processing post wet season or maybe just to get 10k tonnes of ore up to Coyote for test processing during wet season.

My thoughts are that we are in a very strong position at the moment with regard to resources and available cash plus opportunities to acquire additional tenements in the region and I would like to think that management will probably capitalise on this opportunity in the short term regardless of whether we start mining in the very near future or postpone this until after the wet season.

Once we prove up a viable mining operation and have sufficient proven resources to keep a processing plant supplied for perhaps 5 years or more, I think we will start to see a rerating. This may not eventuate as a significant share price rise, but will almost certainly stop any significant falls until such time as price of gold begins to support the share price again.