mount kasi, page-6

Well Northwarm and all,RCP looks to possibly have a good case in its favour given that Fiji needs to attract Investment and not scare investors away by 'dudding' a small Company like RCP. COMPENSATION quickly via 'Common Sense'; to RCP of that $9,200,000 as mentioned in the following Quote from RCP's 2008 annual Report is a good way for Fiji to re- attrct Investors Etc. and move forward.
The Quote for RCP's 2008 Annual Report:-

'The Company leases for the Mt Kasi
Gold Project in Fiji expired on 31
December 2007. The Company has
lodged a detailed work programme in
support of an application for a 5 year
extension as well as a formal appeal with
the Minister for Mines, however at the
date of this report, the leases have not
been renewed by the Interim
Military Administration. A provision of
approximately $9.2m for the impairment
in the carrying book value of this
investment has been raised in the
accounts at 30 June.
In the several weeks prior to the
writing of this report, there has been
unprecedented upheaval in world
credit and financial markets, a major
downtrend in base metals prices and
economic downturns in most developed
economies. Governments and central
banks in the US, Europe and Australia
have responded with the provision
of government guarantees on bank
deposits, economic stimuli packages
and monetary policies to reduce interest
rates to minimize the impact of possible
recessions or economic downturns.
This has created an environment of
unparalleled uncertainty and market
volatility across all sectors in the financial
system and the virtual shut down of
equity markets for primary capital
raisings for most corporates across the
board irrespective of size.
Notwithstanding this turmoil and
uncertainty in the market, the Company
has an advanced brownfields copper
project in a low political risk jurisdiction
in Australia, high grade near surface
deposits by comparison to its peers and
relatively low capital costs to get into
commercial scale production. These
project attributes coupled with an
experienced and dedicated management
team provide a sound basis for taking
the Company forward to full producer
status once there is a level of stability
restored to the market, hopefully in the
short to medium term.
Jerome G (Gino) Vitale
Managing Director ' End Quote


No responsibility taken for any losses in association with this Posting.

Regards,


moly