Ann: Lake Torrens IOCG Project - Drilling Update, page-69

Hi,

I personally prefer to see the SP back at 8 cents where last week's share placement was pitched.

This will now ensure that the sophisticated investors who took up the 60 million shares last week, will not be enticed to simply take their profits and run i.e. dump their shares on the open market all at once.

Today was also a nice opportunity for me to pick up some more shares at 8 cents, at what I call dirt cheap prices (I now have just over 4 million TAS shares).

Returning again to last week's share placement, if FMG have found nothing exciting at all with VUD018 and VUD019, those sophisticated investors who took up the 60 million shares last week are going to be mightily pissed off. IMVHO, GS's entire credibilty is on the line. If he has indeed pulled a fast one, he will be the talk of the town and I strongly doubt that he will ever be able to raise money in Australia ever again.

Finally, by my calculations, the VUD018 assay results are now less than 3 weeks away.

Cheers.