uranium exploration results..when, page-11

Hi Moly,

Had direct correspondence with JY yesterday, he replied to my email questions within the hour.

1. Do you have any more background on Ian Sheffield Parker, anything would be appreciated.

Ian has worked for a number of listed Oz companies in senior hands on and management roles relating to processing operations at Renison, Iluka , Skardon River
with relevant experience with gravity recovery and industrial minerals sales and marketing

2. Are we anticipating CAPEX to stay the same or can we get a reduction here?

We have identified areas where we can reduce capital up front however some of these intial savings will tanslate to higher operating costs
it can be a bit of a trade off, contracts can be put in place for mining ,crushing, power and camp facilities with little up front capital, the main
issue is funding of the processing plant, we have had estimates of AS45 to 53M using all new equipment

The published number of A$63.3M included owning our own camp, power and mining fleet and working capital.

3. Is there any significance with regard the coal find?

We will look at doing alittle petrology to ascertain if it has any economic value, however the sign ificance is that it is s strongly reducing environment
If there is any significant U in the system then it should be localised near this horizon, and yes we are still waiting on results!!!

Regards


John Young
Chief Executive Officer
Direct: +61 (0)8 9327 0911
Mobile: +61 0419 954 020
Fax: +61 (0)8 9327 0901