resistance, page-74

Acid Leaching is relatively expensive though. Reagent costs are big in this game. I have little doubt they can separate the mineral just a question of which combination is quickest and cheapest.

Ngualla is too big to be ignored. We have been approached by multiple parties and they will be back again post JORC. The more risk we remove from it by defining the resource and seperation methods the higher premium they have to pay for the derisking.

From a projects perspective its a prime target. Huge tonnage, big grade, in demand multi-commodity resource. It ticks all the boxes and could shore up certainty of supply for any large major out there. Look at Riversdale, Equinox, WMC (Olypmic Dam) they all had mega deposits and were all taken out despite infrastructure concerns or other touted risks. Simple fact is when something is world class in sheer size and grade it's noticed by many (Charlie Aitken is a big believer in this principle).

For anyone not confident go a long way back to the Sydney Resources roundup before embarking on the Ngualla drill campaign and look at the faces of management when talking about Ngualla. Just after talking about the Tanz Gold and sitting on the same belt as a 23m Oz gold mine they then tout Ngualla as the key company asset and not the gold. The words "monster", "world class" and "company maker" were all thrown in with beaming smiles of excitement before they even stuck the drill bit in it. They knew well before we did and still know now.

http://www.youtube.com/watch?v=27RAULgbsqU

Can't wait for next March. Hopefully world markets remain relatively steady and we will see some bidding.