shareholder company update

Received a shareholder update letter today with some very promising info:

"In the past th eprojects potential was based upon outcropping hematite mineralisation conforming to a supergene enrichment model"

"Recent exploration has shown that the larger deposits tend to outcrop poorly"

"Exploration until relatively recently focussed on outcropping mineralisation and as such has overlooked areas that potentially host large deposits. Recent success at the C3 deposit highlights this"

And most importantly:
"Resource calculations presently being undertaken by Snowden's with results expected by end July 2008"

Looking good for a huge upgrade....