Ann: Company Presentation - Mines and Money Hong , page-13

re: Ann: Company Presentation - Mines and Mon... Hi 123hinwood

You've pretty much answered your own question in your worthy of discussion post.

Unless Site 45 is drilled prior to June this year, it's hard to imagine how accurate or worthwhile any initial Jorc Resource at Karoo would be at that time.

HQ (Gus) once told me he would issue an ASX release as soon as we are given the permit to drill at Site 45. And as we all know, no such release has thus far been forthcoming.

So what's what? Well, that's anyone's guess. There are a few possibilities that come to mind.

# We have just received the permit and are about to issue a release and begin drilling.

# We have the permit and have already commenced drilling and are going to surpise the market with the results.

# We don't as yet have the permit but HQ has been told, or are at least very confident that the issuing of the permit is very close to being given.

# We don't have the permit and we don't know when it is coming.

But, to attempt to answer the precise query you raised, it would seem unlikely that we would release an initial Jorc Resource of Karoo without Site 45 having been more comprehensively drilled - especially given that Gus told me (and no doubt many others) in days past that he consdered Site 45 to be our most prospective.

Only time will tell I s'pose.

Regards
RM