Ann: Additional Disclosures for Visual Observations at Ajax East, page-20

More I think about it this does not bode well. They are likely doing XRF analysis and someone must have queried them or the ASX why they are no longer releasing these but they did it on that one hole on Ajax, which proved to be fairly accurate BTW. Only explanation can be they came back poor despite the presence of sulphides and good visuals. So they put a release out saying they can be inaccurate... Then the release mentioned further drilling and excuses about mapping the area and understanding the geology when should be copper all over the place. My tip is first hole lab pre results came back crap to very crap and they are back peddling now and we can expect a release maybe next 2-3 days saying as much. That’s why they are saying and drawing us to follow up drilling. I should of followed my instincts when they stopped releasing any XRF numbers it meant the results are not great. Also it’s one drill hole at Ajax East taking weeks?

Assume Ajax East no good where would this leave us?? Prob not many prospective targets left. Trafalgar could expand and grow perhaps. Kalman but I don’t know how mineable that actually is. Must be eating up some cash now too so a fresh CR not out of the equation? Legit could be an option to bunker down for 9-12 monthnd see off this recession - do some light geo work. Find a few new targets.

My honest take but hope I’m way off.