Ann: High Grade Gold Results at Bella Tondi, Visible Gold Panned, page-59

Is this whats holding things up with the Tungsten Project? Are they waiting on the flotation test work results?

"Work in optimising the flowsheet continued during the quarter with a metallurgical sample sent to the United States. If the flotation testwork is successful it has the potential to further reduce Capex and Opex. Results from the program are expected towards the end of the next quarter.

Discussions were held with potential offtake partners who are attracted to the Watershed Tungsten Project due to the clean high-grade scheelite concentrate that will produced at globally competitive prices. Arranging a suitable concentrate offtake agreement will be a pre-requisite of non-equity financiers as they will require most of the tungsten produced be sold to a reputable buyer with suitable credit risk."