update outnet profit for the year ending June30 08 0.5 - 1 mio...

update out

net profit for the year ending June30 08 0.5 - 1 mio A$.

Pajingo under full steam, mill in continous operation, staffing completed. profit affected by ramp up of mine.

74000 oz pa for the financial year starting July 1 08 expected.

All in all. Well done. When I see other juniors struggling, losing money, going into administration... Good Job.

Now let's focus on exploration and Baal Gammon development.

Pajingo will become very profitable once POG raises in real terms, not just in US$ terms. Watch Gould/Oil ratio... signal big buy for Goldies...

Enjoy,
Pisa_