ullo to ferret et al, page-3

If a visit has been organised I would be happy to come along as well!

Spoke to Denis a week or so ago and he gave me the following update;

1. MMN has commenced production and will have enough silver powder by the end of May to give out as samples to industries to trial in their applications. No announcement made because it was in the quarterly for all to read! (Seems a bit harsh)

2. Ramp up to full production averaging 2,5M oz per year will be reached in October.

3. Increase in production is on the cards if silver trades above US$20. The low grade ore will be blended into the high grade. Production of 4M oz of silver would be achievable. (I believe silver will hit this price by October 2007 - Yes I know I said April 07 but I was wrong)

4. Production costs of AUD$8 but was non commital.

5. Talley Ho looking the goods! They're super bullish on Talley Ho!

6. Still no decision on Silver Spur slag. I told them to give Intec a call! Could be something they can do. The problem is the cost to ship the slag to a port for shipping to a smelter.

7. Couldn't update me on NGG which is strange!

Cheers,

Phillw