Ann: Rose of Denmark Gold Mine Operational Update, page-46

Hi Boz, first, like Vertigo I feel the Release sufficiently explained why the new director was hired.

As regards drill results, and basically this goes for all drill results to date, we discussed this ad nausium especially with Kranky. The intersections being reported from RoD and McNallys are at least as good on average as those for most areas previously mined economically in the late 50s early 60s by WMCs precursor.

Typically if there are a few high grade (over 50g/t of over 1/4m) in an area then there will be a halo around that hot spot of lower yet economic grades. On average the entire area might average 5-10g/t drill grades but when mines it averages 2-4 times higher.

Costs since then (70years) May have gone up by 4 times (how much would have your wages gone up for same job since you were born?) Vs price of gold also up 4 times. So same grade distributions same cost/revenue ratio therefore same overall commercial returns.

in those days MStar was one of the best performing gold mines in Australia