Ann: Maiden Australian Drill Program Successfully Completed, page-151

I'm a glass half full type.

It's hard to go past this:

1. (from Mattminton) "2) If there was nothing worth continuing in the frewenas, why wouldn’t the board scramble to move to the next project ie Jean Elson? Usually those companies who are forever finding something move to the next thing so they can keep the shareholder dime rolling and raise capital for point 1.."

2. They know, as we do, there is $6.5m in option exercise funds up for grabs in 80 odd days - less really when you factor in all the conversion procedures....hugely important funds to drive the company going forward.

3. They know the share price has cratered recently. Which as others have alluded, is a trifle odd (the low volumes causing the fall).

4. They released a pretty dull, steady as she goes Quarterly, which suggests little more than they're content to stroll around the core shed doing a bit of logging whilst the assays get done.....

5. Zero mention of any increased activity at Jean Elson or Macauley Creek - the two next most likely projects - both having significant surface expressions of mineralization - both ripe for more early stage, low cost exploration.

It only points to one thing in my opinion.

The contrary view simply is illogical.

(but I've been wrong before!)