MarkMy dud status is as follows: Whilst only one set of drill...

Mark

My dud status is as follows:

Whilst only one set of drill results have been received, the gold announcement of 16th April 2009 was not promising. The gold grades were very low and the grades that were good were too deep and too narrow. For example, 2m at 5.94g/t gold from 16m and 10m at 1.28g/t gold from 129m is not economic.

Kroombit is very low grade and profitability must be questionable.

• a zinc resource of 5.2 million tonnes grading at 1.9% zinc and 0.15% copper at a cut-off of 1.0% Zn, for
98,800 tonnes of zinc and 7,800 tonnes of copper

• a copper resource of 0.9 million tonnes at 1.0% copper at a cut-off of 0.5% Cu for 9,000 tonnes of copper
and

Torrens is very speculative. Already three drill holes were completed. From memory, whilst they were promising in that there were copper shows, the grade was too low and it was uneconomic.

If Straits try again at Torrens, the share should run again.