Ann: Outstanding Exploration Results, page-38

Hi VVX all good with me but watching our neighbour and former partner at Beaton’s Creek, Novo Resources lift its market cap to more than $A1.2 billion based on its exploration activities around conglomerate gold deposits has been tough to watch. Especially the fact that Novo’s value was considerably less than Moy not that long ago. With Moy at 15 cents Novo is now over ten times more valuable

While I share many peoples scepticism in regards to the Pilbara being the next Witwatersrand I think it is prudent that Moy should have at least some exposure to these type of deposits - just in case. Of course I am not sure what is happening behind the scenes at Moy but overall I can see the market is not that excited by our drilling program or growth strategy. Only time will tell I guess.