Ann: Half Yearly Report and Accounts, page-38

"The key milestone achieved during the half-year for the development of the Tiris project was the approval by Mauritanian authorities of the environmental permit," Reeve said. "The company has discussed the delay to the grant of gold tenement with the government. During the most recent meetings with the government, in regards to this delay, the company was informed that the tenement will be granted soon. A key diversification strategy for the company is gold and base metals and the ground subject to the tenement applications is highly prospective."