Ann: Lochinvar Scoping Study Update Presentation, page-8

its multi facetted, with coal, gold, tin, tungsten, but what always stuck in my mind was when i spoke to Gary, back when NAE was .004 and unwanted. He pointed out, if my memory is still good, that the neighbour (Hemerdon) has a softer, clay type material to process.....terrible in wet climates...........Redmoor is a hard rock deposit, and there is an (outside) chance that Hemerdon will want that ore as its easier to process, by virtue of being a harder, drier ore, that doesnt clog the screens etc, add that to the fact that RCF is the major financier of Hemerdon as well, and it makes for another facet of NAE............ Bear in mind, my thinking is somewhat dated, and i stand to be corrected. So, the closeness, distance wise, of the two, could be a major factor in development if the current drilling stacks up............and, of course, any prospect of sale, development of Lochinvar, which has always been the focus of RCF