Ann: Quarterly Activities Report, page-31

Hi miningnut

The ASX regulations regarding reporting mine life to JORC (Joint Ore Reserve Committee) is an easy accessable and interesting read.

The regulation states what information can be reported to investors and what informatiin cannot be reported to investors.

Peter Kerr is bound by such regulation and therefore can only speak about life of mine based on ore reserve.

If Peter Kerr believes the resource is convertable he would be in breach of ASX JORC regulations to even talk about it. He is only permitted to talk about mine life and production guidance based on ore reserve. So when he states 3 to 4 years then that cannot include any resource what so ever.

The ASX JORC regulation has been critized by Mr Arden of Bell Potter, who has stated that such censoring deprives investors of information.

As far as the western end of main pit goes (where much of the resource lay), there has been extensive work done to make the northern wall secure. Along with other procedures, 20 metre long anchor bolts have been placed in the western end of the northern wall. Also there have been over 100 movement sensors placed (similar to that used by Grange Resources).