[MEDIA] "Given Kalkaroo is a large gold deposit in its own...

"Given Kalkaroo is a large gold deposit in its own right, containing over 3.1 million ounces (JORC Mineral Resource) and recognising the current high Australian dollar gold price, Directors consider it prudent to focus on gaining as much drilling information as possible about the shallow gold resources at Kalkaroo. With Havilah’s drilling capability the key drilling information can be obtained efficiently and Havilah’s in-house geologists and mining engineers are able to model and evaluate the new data quickly.

Depending on the future world economic situation, it may be that obtaining development financing for the shallow open pit gold mining operation is one possible way to initiate development of the Kalkaroo copper-gold- cobalt deposit in the short to medium-term. The current drilling program will assist in evaluating this option."

"Previously the low grades of this gold mineralisation (typically 0.6 to 1.2 g/t) were considered to be subeconomic, but the current high Australian dollar gold prices clearly warrant re- evaluation. This is especially so, given this cover sedimentary material has to be mined as overburden to access the underlying bedrock gold and copper JORC Mineral Resources."

How high can the Australian dollar gold price go? At 10pm last night, it hit a record price of A$2,817/ounce while I was watching the ***** live gold price webpage.

At the present time, at a FX rate of 0.5976, the live gold price is A$2,724/ounce.

Note : the current Kalkaroo JORC Ore Reserve is 1.4 million ounces of gold.

Cheers

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.