Ann: Appointment of New Managing Director , page-35

Read those misleading information yourself from the company's past announcements on the ASX web site:

1) 17/01/2007 Investor Presentation - January 2007

"Project that can be brought to production in the NEAR-TERM"

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00685549

2) 03/04/2007 Drilling Commences at Taylor Ranch Uranium Deposit
" The Taylor Ranch Uranium Project provides the company with an exeptinal NEAR-TERM production opportunity"

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00708373

3) 23/05/2007 Drilling Update - High Grade Uranium Intersected

" Confirms the NEAR-TERM potential"

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00723499