:: AEX ::, page-9

Livas1, the statement I made regarding no drilling happening and only one rig present did not come from an announcement.
It was a direct question over the phone to Brett Matich, about a month ago.
I asked him straight what drilling rigs were onsite and what was the present drilling program targetting.

Yes, I agree it seems by reading the company newsletter, there is at least in appearance a cooling down of events we expected to be happening at this moment. I was quite surprised to hear the drilling had ceased, and also to read things were not expected till Qtr 4.

Here's their budget fpr financial year 2002-03 for those who don't get the newsletter:

Drilling to confirm 500,000,000 tones ... $2,000,000

Nickel extraction yestwork ... $250,000 (quite a sum to improve atmospheric leaching results)

Concept prefeasibility ... $ 250,000

Nickel sulphide and regional exploration ... $500,000

Working capital ... $3,000,000

And the current planning schedule:

Pre feasibility study.

Full or partial sale to a mining company.

Return of a special divident to shareholders.

Re-investmant of capitol into exploration.

Strange that Ed's address to shareholders commenced with "I am pleased to announce that Acclaim's exploration and evaluation strategy are on time and on budget"

I would love to have the time to revisit Wingellina and have a good look at what is actually happening!

Bomber