Ann: Quarterly Activities and Cashflow Report, page-4

. A very good Quarterly and Cashflow Report. 5.3 mill in Cash and 2.5 mill deposited in restricted accounts to cash back performance bonds. Suplejack had 127 holes completed last week so should start getting results in the coming weeks. Diamond drilling should have started at Lake Mackay with 4 holes to start 1st week August. Negotiations are continuing With parties interested in Old Pirate and Buccaneer which is promising.Also proposals for the J/V of the North Arunta Block are being considered. With all this going on at the moment and constructive negotiations on an agreement with the CLC to allow the grant of the tenement applications,IMO ABU is now a great buy. Hilux45