Nigel,Sirius is definitely focussed on exploration as this...

Nigel,

Sirius is definitely focussed on exploration as this provides the best leverage for the company (=shareholders). Recent examples of success include Sandfire, Silver Swan Group and Rex ? check out their share price since January. The answer to your question is in two statements in my presentation of 17th August, which state:

?Discovery is the lowest cost and highest value adding growth path but does not happen overnight and requires patient systematic exploration? and ?Identification, acquisition and expansion of early stage and/or undervalued resources/projects is also a favoured growth option but is opportunity driven?.

These statements were worded very carefully.

The first approach tends to be the visible part (ie, in announcements) and the second approach (when companies pursue this option) tends to be done behind the scenes for many reasons, and as a result is invisible until completed.

I mean it when I say I?m happy to chat if you want to call ? or I can save you the cost and call you.

Cheers,

mark.