dear gor

It was with interest we listened to your BRR interview today. I must admit a note of desperation was noted.

Frankly the end of May for an update is too late.

What you need to do is run around to the desks of all the geologists and get the 10 best drill results for each of your discoveries put them together with the SAM results that you of course would have made for each of these targets and put out a market update today.

You don't need to interpret it - the market just wants to see if you have anything more than the 900 kOz you started with at Attila/Alaric and the 150 koZ you have added at Central Bore over the last 6 years.

In case you have not noticed when last years cap raising was at a lower price than the previous years that the market does not like your strategy of continuing to spend millions of dollars infill drilling low grade trash that the market has known about for years while you keep announcing "new discoveries" "high grade zone" "nuggets on the ground" and never follow up on. We still haven't got the Justinian results from two years ago - instead you wandered off to look at Hann.

With the share price heading for the sub 20c range which will soon be at 10c by the looks of it you will not be able to raise any money to drill with next year - at present you are looking at $15m tops at around 20c and if it drops to 10c half that.

So there we have it GOR. Frankly we don't like you any more. You make promises you don't keep, only have something to say to us when you need money and quite frankly there are more attractive things out there that offer a better ride.

We feel had, used and abused and we are punishing you for your inattention at every opportunity we can find. Yes you are oversold and perhaps you are worth more, but at the moment you remind us of a dogs doings on the footpath that we have trodden in that leaves a foul smell and we can't scrape off our foot fast enough.


Your's truly

Mr Market.