jorc update, page-12

Can we assume that it is therefore higher than the $30 to $40M indicated? At least they have stopped promoting that figure. "

Scoping study due out december with PFS later on Colin- just be patient and be happy that they are being professional in waiting to release info.


"In September 2008 opex is <$100/t. By October it is $100 to $150/t."

AD has always said assume $100 now it's slightly higher which is fine IMO. Be happy that his disclosure is good in informing us.

"In October 2008 we are told the Arruwurra prospect drilling program is complete, and that results are particularly positive. What has the MD based the comment on – if “particularly positive” there should be more information already released – or the statement should not be made."

Instead of asking these questions please do your own research through previous announcements and you will see that these comments are based on facts. Drill results are there for ALL to see.It takes time for LAB essays to come back for a resource to be calculated.

"They also appear to show intersections of 47% P2O5 and 52% P2O5 – which I find unlikely as I understand it if it is an apatite resource being dealt with – and it probably is – the maximum result of P2O5 available in apatite is ~ 42% or so. "

28% is all that is required for DSO. That will all be discussed in the PFS.

"they are a long way away from PFS studies "

NO they are not - dec/jan we should have results.Once again please do you your own research.

"a little aggressive in their timetables"

GET REAL! They have not come up against anything as yet that will hinder them getting to production in that time frame. Maybe you would prefer a company to sit back/relax and not aim for quick production??

Champ