Ann: Quarterly Cashflow Report, page-2

Its looking goodly all round for GRV holders........


Highlights

Alpha Torbanite Project, Queensland

• Preliminary 49 open-hole (non-core) drill program completed, with
logging and surveying of the holes indicating that the seams are more
extensive than initially thought.
• Alpha Torbanite and bituminous shale seams extend across the entire
extent of MDL330 from the north-west to the south-east boundaries and
remain open along strike to the north-west and south-east within the
Company’s surrounding EPM 27718.
• 45-hole broad diameter core drill program underway within the most
prospective areas of the deposit to provide data for the 2012 JORC
Mineral Resource Estimate and provide material for definitive
metallurgical testing.
• Maiden JORC Mineral Resource scheduled for completion after receipt of
retort test work results.

Georgina Basin IOCG Project, NT

• Outstanding results from the Government-funded National Drilling
Initiative (NDI) further enhance the prospectivity of Greenvale’s Georgina
Basin IOCG Project, confirming the potential for large-scale IOCG
discoveries in the emerging East Tennant region.
• Proposed maiden drill program brought forward to July after analysis of
geophysical data reveals highly prospective drill targets within highly
magnetic bullseye anomalies hosted by significant regional structures.
These are classic host structures for Tennant Creek-style IOCG
mineralisation.