Ann: Quarterly Activities Report and Appendix 5B , page-2

re: Ann: Quarterly Activities Report and Appe... hi holders, so what does everyone think of that?

761k in cash

T2 no drilled till december quarter

PPC sites not drilled till december quarter and the $1.1 million PPC will spend this year is obviously not up front

So, my make on this, due to low funds, Peter and the other directors will be roaming around doing "geophysic and geochemistry" work, ie picking up a few rocks????

the only site to be drilled this quarter will be Milo, do they have new targets to go for here??

basically with no cash, they need to get the options over the line and sign off on the phosphate deal or it will be straight to a cap raising.

yet again another lost opportunity, what a poor announcement, no mention of which sites they will be going for with the PPC cash( if it exists )very little excitement or rush to drill T2( suppose they cant or they will be bankrupt ) and IF the phosphate JV is successful and this time our JV partner actually has the cash, not drilled till december quarter.

sorry guys, my faith in management is completely shot, what to do???