Ann: Noosa Mining Conference Presentation, page-25

Given the size of the deposit and the levels of returns that would flow to the govt, I don't doubt that the govt will eventually approve the mining of the deposit.

But as I pointed out a couple of years ago, the size of the deposit is a double edged sword - the bigger the deposit, the more the govt WILL ask from them in return for an excision/amendment to the National park buffer zone to enable mining.

And, until the market gets a clearer picture of that cost, the value of the company will remain depressed compared to the in-ground value of the resource.

So nothing has changed for a couple of years - and that is reflected in the SP.