Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

During the quarter the Company continued to focus on the identification of potential new
mineral asset opportunities. The board reviewed numerous proposals across a range of
mineral commodities and in various jurisdictions. While advanced negotiations and due
diligence were carried out on one project in particular, ultimately, the board formed the view
that none of the opportunities presented were compelling enough to proceed particularly
from a valuation perspective. The Company continues to actively seek and assess new
opportunities and remains well placed to act on the appropriate opportunity whenever it
arises.


Not sure what the last quarterly has said due to my own laziness but interesting times ahead..