squawk, page-3

G'day 3108.

I note your comments about the gold tenements, but in my view the reality is that management is concentrating solely on Ngualla. That is where the important action is, even though the gold price remains high and is likely to go higher. We only get scant info on the gold, and, as Lefevre well knows, his beloved Igurubi hasn't been mentioned by the company since June last year. The gold tenements are just in the background.

Doesn't that tell you something about how important Ngualla might be? Man, this could be so big as to nearly dwarf any other combined Ree, niobium, tantalum and phosphate reserves anywhere. The stand-alone Ree reserves might even achieve that on their own vis-a-vis other Ree deposits. Plus the low thorium and uranium and all the other goodies of course.

Anyway, that's how I see it. Put the gold aside as there are more important things to do. Now consider that in the context of the high gold price that exists. Gives you something to think about doesn't it! Mark Maine said it was a monster - and you have to look after monsters don't you!