ann out: ti large extension, page-46

I think I've been in for about three years now (feels like it anyway!) and although the return has been decent due to buying on dips, the potential of this beast is what is keeping me in.

I spoke to Neil today and although he couldn't say much I hung up with a good feeling. Sounds like there is some genuine excitement amongst the geos but an awareness that if there is something there that it will take time and that expectations need to be kept in check. I asked about the other extension at TI and the rough answer was that the extension with 4km strike was the hotspot at this point and priority was being given to that.

The main point of my call was to try and get them to put things in the reports in more comparative laymans terms. Crux of the answer was that when the next round of drilling comes back they will elaborate things a bit more, both in depth of what is being said, along with simplicity. He also essentially said that the info was currently there for people to see if they understood it.

I also asked about stone and the general point was that it was in both parties interest for CRE not to be delisted and that they were talking. I took this to mean that the sticking point was price. Good sign though.

Also confirmed that CRE cash cost would be around 1250. By my calcs that'd be around 7-8 million attributable to FML before development and exploration based on 25k oz.

Good signs looking forward. Will be interesting to see who NST pick up. If it is us I will be very annoyed I think!