Ann: Cape Flattery assay results confirm high purity silica sand, page-31

I had a look at the drill map and it looks like to me, with the necessary optimism, we have 16M tonnes of above 99% pure silica sand. If it's selling at US $30 per tonne and we can make US $15 per tonne, that would give a total profit of around $ M320 Australian or $1 per share if there is no dilution along the way.

However. We will need ship loaders, we could get two for under $ 1 million, and a very basic (unsheltered) wharf we could possibly do for $4m. That means a capital raising.

I suspect that Mitsubishi will not let us use any of their infrastructure. It is in their best interest for us to fail. For them the best thing they could hope for is that we go away and they add the sand to their portfolio.

It's all very doable, and our new management have maneuvered perfectly so far. But, I doubt the share price will go past 5 cents until the commencement of the nest stage. The traders will not push it past, and I think the investors are already carrying as much as the want.