analysis?, page-5

Hi fellow recent alcoholic's,

It is a real shock just how much the market has reacted in the last few days, good luck if you sold out at the recent high and were able to buy back in. I sold some at 11.5 but clearly bought back in too early. Never mind, I'm confident they will be back up there (and more) again.

I'm still trying to understand the implications of the recent announcements, which I think will be shown (in time) to be very positive.

There are a couple of misconceptions out there in investor world that most people don't realize (including myself until recent research). The "cut-off" grade doesn't relate to the percentage of mineral that is metallurgicaly able to be extracted from the ore. Rather it refers to grade of ore that is able to be extracted economically.

This point is of great relevance when considering polymetallic ore such as ours -while there is a minimum cut-off level that each individual element is able to be extracted, as a rule, this is much lower than the minimum economic "cut-off" grade. This means that there should be every possibility of us recovering the majority of the mineralisation discovered -despite being a poly-metallic ore.

Great advances have been made from experimentation in understanding how to extract different minerals from complex ores, and the metallurgical results we have announced along with the results from CDU (similar minerology) in addition to Alcane Resources (polymetallic including Rare Earths).

ANSTO, the subsidiary of CSIRO is set up to research and experiment with metallurgical flow sheets including pilot test plants and mini production plants for experimentation.

There are many factors that come into account when calculating the minimum economic grade (which generally becomes lower as the mine becomes older), and chief among them are current mineral prices and mining & treatment costs. There are a range of possible extraction techniques for ore extraction, including; heap leaching; in-situ leaching; pressure oxygen leaching, as well flotation and the more expensive pyro-metallurgy which may be reserved for the concentrate.

These factors should give us considerable cause for optimism towards the future.

Yes I wish I had the world market for-sight to sell out and buy back in now, ...but I ain't selling at these prices -no way!

Here's to some good results in a few other areas too -tiger is also quite likely to surprise sooner or later IMHO.

All for now,

Cheers,