Ann: First month of gold production and update on activities, page-88

HI SOUP41,

I think you are being a tad pessimistic there old bean, gold price is on the up and will average well over $2000 per oz which in my opinion is very conservative. Progress re drilling/resource upgrade is on going and will be far higher than current estimates. Regarding Morila, I was watching a programme last night on the ABC, great railways journeys around Australia compared by Griff Rhys Jones and how mining had set this country up to be so prosperous . He visited the Kalgoorlie goldfields and visited the 'super pit' where they are still extracting gold today , it takes a truck over 30 minutes to get from the bottom of the pit to the top. It makes Morila look like a pot hole when you compare it with their super pit.

I think Alistair has similar plans for Morila , he knows that we are in 'elephant country' and knows that our pit was no way nearly fully explored. He has invested a large portion of his personal wealth in FFX because he knows the likelihood that the system extends further down are very vey good. I reckon he has plans to copy Kalgoorlie's 'super pit' and extract all the gold that is surly down there. So satellites first then the main event "Morila the Gorila".

On the lithium front , there is no way that Goulamina is not going to be mined. Gold maybe where our focus is at the moment but Goulamina is ticking over in the background. Recent events on the world stage have shone the spot light back on lithium and rightly so, it is after all the energy source of the 21st century and every globally significant lithium resource is going to be called upon to meet the explosive demand that is surly coming on stream.

You can be sure that the company that Alistair mentioned in the AGM (I think it was) that offered to take the project of our hands and pay us a royalty for it have not simply gone away. There could be several interested parties in our resource, we will be notified when one of them comes up with a serious offer/proposition. We know there is at least one and Alistair did not feel the need to update the market as he considered the offer a non starter. He knows how much it is worth and he will only inform the market when a deal will stand up and pass mustard.


Regards
FINN