Ann: Exploration Update - Greenvale Project, page-4

Lots of work to be done here - I am looking forward to testing extensions to all those Steam Engine zones, lots of soil anomalies never drilled so a successful hole or two there will be a blowout to the strike extent of known mineralization at Steam Engine. Steam Engine is the easiest to access and most likely thing to become a future potentially commercial operation in my view.

Not too fussed about Bottle Tree - will need geophysics and a bit of luck to get some better copper grades than previously reported by previous explorers, 100m at 0.3% Cu in that location is interesting but not really going to ever amount to anything economic unless the geophysics point them towards something an order of magnitude higher in Cu grades.

Lucky Creek and Big Mag areas for Ni Co exploration are interesting - but with the rail line from Greenvale to Townsville dismantled, and the QLD Nickel refinery in mothballs thanks to Clive Palmer they are essentially worthless stranded assets no matter what they find...

The Big Mag area is interesting from the sheer size of the geophysical anomaly - I hope SPQ have some time set aside to explore this area for everything from Au to base metal VMS and porphryies plus mafic Ni Cu Co stuff because the area is seriously under-explored and has potential.