Ann: Corporate Presentation, page-14

Geology can be quite the guessing game and requires elements of luck... but these prospect generators need to learn about the structures/geology of the area to best target the mineralisation.. this knowledge building takes time, particularly in an area like the Kalahari which is underexplored, covered in kalahari sands and calcrete (no outcropping) and has these complex dome/anticline structures that trap the mineralisation. There has been quite a number of discoveries in the area in the last 5-10 years and the knowledge of the area and exploration techniques (ie electromagnetics) has improved with it. You get the feeling they (or the neighbours) aren’t far off yet another discovery.