Ann: Carlow Castle Update and Proposed Capital Raise, page-106

Mike c You said ARV have been using nearology 'for years' and that was my concern with your comments -not the Paterson. The Paterson is relatively recent.

In any event having highly prospective ground surrounding a major discovery in the Paterson is justifiable 'nearology' . You are way off in criticising any company for promoting their prospects in such circumstances.

For you information the term 'nearology' has been around ever since I started off in this game 67 years ago in the NT. It hasn't "worked its way" in recently -its been around most likely for thousands of years. For any investor its a function of assessing the geology nearby -the reputation of the company and at the end of the day is a matter for your own personal judgement. It's not something that should bother you - people have been chasing gold rushes on every continent on the planet since Adam was a boy.
I haven't noted Thor promoting anything 'next to Novo' or 'next to Calidus'. To say that Ragged Range has Warrawoona Formation rock types is a perfectly valid observation but noone is suggesting Ragged Range is another Klondyke -the settings are different. Nor are the settings like anything in the Mosquito Creek Formation of Millennium - now Novo. Novo are losing money hand over fist anyway at Beatons Creek - a disaster in the making.

As for Thor rock chip I think you need to be more specific - there are photos of gold in the pan and that is valid because its no more than a pictorial presentation in a Power Point. And in terms of maps every company has a map of mines in the general area.

Ragged Range has to my knowledge never been promoted as nearology -it's stood on it's own merits.