the path to significant rerating

This is how I see it playing out in coming weeks/months.

March

YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)

- Carina Results and initial Jorc resource statement (first hole of 12 gave 106m @ 58.7%fe, hemetite-geothite intesected at similar widths over 1.5km strike, open at depth and along strike)

- update on drilling at Chameleon, Vela, J4 extension and Musca that has now been completed, possible initial assays for chameleon.

- update on further drilling program set to start up again in april, possibly including Bungalbin drill program (mineral deposit drilled by BHP in 1960's with 69mt@59%fe)

-details of Portman agreement regarding tenements containing Bungalbin east and J4. (commercial agreement agreed in principle, details pending)


POONDANO PROJECT (target 10-15mt CID DSO)

-drill results from extensive in-fill program at west and east CID. Initial JORC resource statement.

-update on drill program set to test central mesas and on bulk metallurgical sampling program.


April

YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)

-drill results for Chameleon, Vela, J4 extension and Musca (or at least for several of these targets)

-initial JORC resource statements for Vela and J4 extension

-New drill program underway testing additional discrete targets and extension of Carina strike, possibly Bungalbin also.


POONDANO PROJECT (target 10-15mt CID DSO)

-New drill program underway testing central messas and infill of east CID.

-update metallurgical testing program


May-July

YILGARN PROJECT (target 150-200mt Hemetite-Geothite DSO)

-further drill results from initial drill program and april program (Carina extension, Bungalbin, discrete targets)

-Pre-feasibility study completion on 10mtpa DSO operation over 10-20years (2010 mine commencement), shipping DSO through new Kiwana Port via established rail link.

-likely Off-take agreement to Polaris strategic partner (19.6% stakeholder) "Lion group malaysia-steel division".

-formal agreement of current MOU with Toll malaysia for shipping and handling of ore.

POONDANO PROJECT (target 10-15mt CID DSO)

-further drill results from april drilling program, and metallurgical testing program.

- Pre-feasibility study completion on 2.5mtpa DSO operation over 5years+ (mid 2009 mine commencement), shipping through new berth at Port Hedland, close proximity with only 30km of ore trucking required.


WEELUMURRA AND CALINWINGA PROJECT(target 210-310mt CID DSO)

-new drill program testing the 250mt-310mt CID targets (with average grades of approx 58-60%fe), next door to FDL/FMG tergets/resources.



Market cap at this stage?....wont be the current $70mill that's for sure.

Polaris represents incredible value at present price IMO.

cheers.