Ann: Quarterly Activities Report - June 2015, page-3

Silly strategies. Falling for a dodgy diamond deal (the old sprinkle a few diamonds about truck) when out of cash and just needing to hang in there for better times while holding onto the Turner River gold and VMS assets. Maybe if they had an embarrassing 5 million in the bank and nothing to spend it on, but they are broke, their jv partners are also either broke (rugby) or are stalled until iron demand goes ballistic again and a massive railway is built ( beyondie iron project). So for now it's time to hold onto Turner River by doing the minimum to keep the exploration lease and hope the market will improve one day to raise more funds to further explore Turner River and develop a hold mine at Wingina. Find a friend with a cheap and portable CIL plant and go from there.