Ann: Project Updates, page-2

With Iron Ore up 41% for the year our sleeping giant world class iron ore deposit is now in the picture again. These 13 drilled holes at Hatches Creek awaiting results should increase the value of our Tungsten asset.I have always believed Hatches Creek is worth a lot more money than the $8.7 million cash deal with TGN. I believe GWR shareholders will get a better deal this time around.Hatches Creek is an exceptional asset with the best tungsten grades in Australia.Our Gold resource upgrade is due out this month and should lift our share price. BLK also need this very high grade Gold deposit and have the mill capacity available and having adjoining land to us make them a good partner.My personal view to investing is the Warren Buffett approach when I buy my GWR shares I have no intention of selling in the next few years as I can see our Managements end game.They are creating assets that all shareholders will be proud of in the future.CHEERS