Ann: Gold Exploration Farm-in Agreement,KRC-SPX.AX, page-17

Thanks Happyone. I hope so too.

KRC is a very frustrating exploration company to be associated with. They promise a lot and so far have delivered nothing to long term shareholders.

I believe this is their last chance.

Every year for last 6 years they have "gone for the jugular" and never (that is never) drawn blood.

Late last year they, out of the blue, discovered they weren't looking for "layer cake" mineral formations that it was epithermal veins they were after.

For six years they explored for one type of mineral formation theory only to find it was another type they should have been looking for. Millions of shareholding funds down the drain on a "wrong theory". How Embarrassing is that?

But now it appears they have both types of mineral formation. Why have one when you can have two? Well lets see them! The next report will be a company maker or finally a company breaker.

We hope for the best but fear the worst - as always with KRC.

I continue to hold a few just incase they surprise.