Ann: Investor Presentation Noosa Mining and Exploration, page-20

Be careful you don't have that sixth sense that makes you sell the day before a good announcement. HMX doesn't seem to have a history of leaks.

If you are throwing the towel in already on building a suitable reserve/resource for mining then you probably don't understand what is really happening. Hopefully you are just a nervous investor. There has been no bad news to justify a bearish dump. For me personally I have always ascribed little value to the WA gold story, hopefully they will get a little resource for toll treatment or sale but it is not the main game. When you have 2/3 of the resources required for a 30,000t Cu p.a. copper mining project then this is the main game.

All shares are subject to the ebb and flow of the market and for explorers/miners the movement of commodity prices. Copper and gold prices seem favourable at present.

HMX will this year be drilling further at Trafalgar, Sunrise, Black Rock, Overlander and others to build JORC resources. HMX are clear they have about 2/3 of the amount they need for a mine development. There are early stage exploration prospects being drilled as well as geophysics and soil samples.

JOGMEC clearly don't share your concerns. They think there is sufficient likelihood of a mine that they have progressed to the next stage of tendering the project out.