Ann: Diamond Drilling Confirms and Extends High Grade Gold, page-3

The penny will drop eventually. They had 100,000 ozs in inferred resources at BoD and Lena before any of the recent drilling started so who knows what they could end up with with all the additional gold discovered since they took over the leases. And they haven't even started to delineate the zones at Leviticus and Break of Day South.

Plan looks to be to develop Lena as an open pit then cut a portal from the Lena pit to an underground operation at BoD. Improves the economics considerably. RW is pretty conservative so no accompanying blurb about "major new gold discovery at Cue" though he could be justified in stating so. The planned February drilling has been put back to May one assumes to recalibrate targets after the the results of the DC drilling have thrown up new finds. You can't be disappointed about that surely?

Musgrave could be in production in a year or 18 months obviously a time frame too far into the future for some shareholders.

With the deposits at BoD and Lena growing with each round of drilling you would have to wonder about the take over attraction. Cashed up Ramelius has operations in the area and will be soon looking for a new development, Blackhams just down the road on the same shear zone will be mined out in a year or so I believe.

Musgrave should soon announce that it has satisfied the $2.7m expenditure requirement to earn 60% of the leases at Cue and Moyagee from Silver Lake. Certainty of their interest over the leases may be what investors are waiting for.