Ann: Ceasing to be a substantial holder, page-5

I think it's very sad to see that only 25% of the expected $240,000 spend this upcoming quarter is going into exploration and evaluation.

$60,000 is not going to buy too much; a couple of consultants, some desktop reviews and some fuel to drive out and do some auger / soil sampling. If we're lucky maybe we could undertake some shallow AC holes at Kurnalpi?

I understand with so little in he kitty we have to progress slowly but 75% going on wages and corporate costs doesn't give us much hope to progress anything.

So, one would expect a few things:

* A hopeful sale of either Alaska or (sadly as I was looking forward to seeing what that 8Miligal anomaly was) Churchill Dam but i'm not sure what that will raise?

* Another CR within the quarter. The damage done by AK to the sp could potentially make the next CR very dilutive. AT 7.5c there was some wriggle room, at 2.2c not so. Lets hope that by the time we need to raise again we have some good news about something.

* Focus on Kurnalpi (which was the reason I bought into RGL in the first place) to try and pull a rabbit out of the hat.

Just my thoughts ...