Ann: Placement and Option Exercise enables Extension to Drilling, page-13

Sandfire Resources (SFR) went from $0.15 up to $3.84 within 6 months in 2009 after hitting circa 30% copper grades at the Doolgunna Project in WA. 12 months after that they were $8.40. This was in a VMS style deposit beneath a copper-oxide zone, different to what we are drilling. Whilst these grades are probably 10x what we will realistically see in our drilling program of the skarns, it is indicative of the dramatic effect on stock price that any decent hit may have on us. If the copper grades come through, the days of trading in cents will disappear.

Skarns are huge relative to VMS style deposits, so while grade is lower, the tonnage can be higher, with a net copper content higher. The Bunnings approach of a massive shed with lots of product of lower quality and they make lots of money. Look at Kennecott Mine in Salt Lake City.

We have a tiny MC, a tight share register, drilling in known ground, there is every reason for this to explode.