cyclone damage, page-9

Resource hasnt been upgraded since 1999 apart from oxides focus which represents only a SMALL fraction of total. yet MUCH drilling has been done since on upgrading but ALL results have to come in first for the model to complete next stage. Thats not only the 8000 samples but also the ensuing 12000 metres Q4 drilling which should have completed. I expect significant upgrades to both sulphides and Mt Fitch uranium but WHEN is the question?

Meanwhile broader market dynamics have added to weakness so when these upgrades finally arrive, we will be served up on a platter from IMO a lower base !!! THAT has been my PRIME concern for some time now and have been vocal about it. Its OK to say we are focused on getting oxides up as a priority and so we should cos CREDIBILITY needs to reverse from its decline ...... BUT ........ same time we should be IMO doing the song and dance re our POSITIVES to try and keep it harder for the predators who must be salivating more and more each day

For them who aint acquainted with sulphides, we had a Government grant funded (6 mill) pilot plant operating on these some time up to 2003 shelving, cos of resources prices lows, so HNC would have plenty of metallurgical / process data to review as well as doing their own. HNC would also have plenty of unused smelter capacity as well so feel sure they would push for concentrates only but all this will be shown during FS stage in progress. Bulk sampling for China should soon after wet ends i would suspect.

Sulphides and Uranium are all good for mine in a prolonged resources boom and AUD likely future moves is actually on our side as well IMO, BUT its the MEANTIME vulnerability which I keep concerned about and which is NOT IMO being properly addressed atm. Hence i intend wearing my own shark fins and taking that view myself if technos take it to where I suspect ahead of oxides start. From that low point whatever / whenever, IFF we still remain intact and in control of our extensive assets and the world remains in recogniseable form, I would be still be expecting all upside targets previously mused over in here when all looked good.

Buying opportunity emerging IMO BUT lets hope for CMR supporters and not likely marauders.

Thats the way I see it and am playing it to suit MY personal targets. U all have tio consider how it affects your personal portfolio strategies .... u know my thoughts from day 1.

IMO We are so ridiculously cheap now that a bid from left field must be getting more likely with each new drift-low hit. I cant understand why THIS POINT is not considered the main concern to be addressed !

IMBOOC