Ann: Exploration and Company Update, page-3

"Successful $900,000 capital raising nearing completion";
so Phar lap closer to being on!
In fact:
"Aboriginal heritage survey completed on Phar Lap project.
The heritage clearance allows for a gravity survey and possible drilling of two iron-oxide copper-gold (IOCG) targets on the Phar Lap project (These anomalies are similar to the anomaly associated with the Carrapateena ore body).
A detailed gravity survey (250m x 250m) will commence upon receipt of the clearance report and
will take approximately three to four days to complete!


As reported:
EL 5123 (Phar Lap) is located approximately 60km WNW of Prominent Hill on the
southwestern margin of the Mt Woods Inlier. The Mt Woods Inlier contains the Prominent
Hill (Cu-Au) and Cairn Hill (Fe-Cu) mines as well as several IOCG style targets including
Joes Dam and Manxman.
.

Jockey Jim Pike, who rode Phar Lap in most of his races, summed up his performance in the 1931 Futurity Stakes at Caulfield, where the odds were stacked against him, with the words, 'I thought his heart would burst.'