milestone ann, page-3

Hi themaverick and others,

20Mt was well inside my ballpark calcuations and is a very pleasing first JORC. As I suspected, they have done it all to inferred resource standard in line with their cautious approach with our money. I was pleased to see them calculating the resource to a greater depth. This clearly reflects both the hillside topography and the geotechnical parameters of the country rock. I was expecting they would be able to take a deeper cut where the magnetite skarn abuts the granite towards the top of the hillside and this seems to be how they have measured the resource.

We need to bear in mind too, that the nearby Main Zone is expected to be similar in size or even somewhat larger. I certainly is significantly richer in tin and the old tin mines have barely scratched the surface.

As the market digests this news we can expect the price to lift past my 50c target. With exploration ongoing at a rapid pace we should be seing news every few weeks. When we start to get the JORCs for Main Zone and Stanley River, and once any overhang from oppie conversion is cleared, we should see the shareprice headed towards $1 and beyond