update and change of company name, page-16

Hi Hopper, thanks for your thoughts;

Not sure how easy it actually is to "fast forward things" when it comes to labs analysing assays and govt. departments issuing mining approvals......

Also;

1. Drilling at Elsienora has been done on time and according and to schedule.

2. Peelwood, ... well it's taking forever, but from the last qrtly it was stated that the EIS will be submitted by the end of this qtr, so lets just see if this happens or not.

3. Togo- We were given updates 27/09/2011 and 06/10/2011. If I were Mike, I'd be conscious of broadcasting to the world what our position is regarding a commercially confidential tender process.

This market will only be interested in NEW information. The Company communicating on a monthly basis that all is well and proceeding according to plan IMO will not move the share price in this market. Just as today's announcement to not move the share price.

This market demands results, i.e. yes we have hit 100mtrs of 5% copper, yes we have 8g/ton of gold in NSW or yes we will be mining at Monty. These sort of announcements will move the market.

I obviously agree regarding the opportunity cost of holding, the question is will the SP drop further (or are we more or less at the bottom now), and when will a re-rating type announcement eventuate??