Ann: Phils Hill Drilling Update, page-260

DEV's results were not received well today (down 10%). I don't hold DEV and from what I read they have a 'promising' 12km strike length some of it abutting PURs' tenements. Most of their core drills at the deepest were shallow (50m or less). I am not sure how deep PUR will drill but it is clear that anything less than CHN like results will be rejected by the market even if long term viable mining is an option. I thought we were harshly dealt with today. We will be employing a different kind of drilling with excellent CHN like surface samples as markers. If other parts of the world where PGEs exist are anything to go by, CHN is part of a much broader anomaly and PUR is a part of it. I am not an expert in mining but I ,as per Tretch's advice, do look at nearology forums and if the results are not CHN, they get smacked somewhat unfairly (see CPN). It seems like every time we catch an updraft, the seemingly positive news from nearby plays drags us down. I also know that our 'frememies' at NI have been awfully quiet and hold over 6 million shares and have made it clear that they will sell a portion of their 'shares' pre drilling. I am hoping like all genuine holders that the share price will appreciate on news of drilling commencement and that Barry and his crew will hit pay dirt over Lani's 26km snake. For those more in the know I welcome any discussion around what deeper drilling might unveil.

GLTAPH