Ann: Quarterly Activities Report and Cashflow Rep, page-4

re: Ann: Quarterly Activities Report and Cash... From the Quarterly Report

"Resource models were updated for Frances Creek, with 8.58 million tonnes of Inferred and Indicated Resources and 3.78 million tonnes of Probable Ore Reserves as at 31 March 2010".

At 2.2MtPa, about 2 years reserves although below to be taken into account

"Pit designs are being remodelled taking into account the recent price increases and specification changes, which may result in a conversion of indicated resources to minable reserves".

"Consulmet Pty Ltd engaged to construct and commission a beneficiation plant to process the Companys scalps and low grade ore stockpiles, upgrade them to saleable grade specifications and extend the life of mine".