great announcement, page-4

Talk to Jeff he thinks its likely they will get an offer. The announcements about increased reserves would improve the asking price I suspect.The large volume through today in addition to osprays 13% and a buy order of 3 Million at 40 cents would make a very nice springboard for a majority holding.

I have copped a hiding on my entry price, cant over look the fact that they will be producing significant amounts soon and there are no immediate needs for funds before starting production.Have taken the opportunity to increase at 47 cents.

I do think they will have difficulty getting the zircon mining going in the current environment.But the gold mine would be attractive as it is almost completed and fully funded and a significant amout of production is forward sold at attractive rates.

Happy to hear contrary views.