Ann: Quarterly Report and Appendix 5B , page-8

CP, I just re-read those old announcements from 2008 and see that your analysis is pretty good. The major changes since then are that the tungsten price has climbed much higher, but unfortunately so has the AU$, thus negating much of the tungsten rise. Nevertheless, the project would clearly be economically viable based upon the info given in 2008, though, as you say, not a huge moneyspinner. I wouldn't be surprised if it is a Chinese entity that wants to get involved, since reading suggests China is moving towards becoming a net importer rather than exporter of tungsten. Thus strategic acquisition of the resource could play as much a part as economic concerns, though there is definite profit to be made, especially from a scaled up mine and processing plant. Anyway, as I said before, if the latest report is accurate then there should be movement soon, which makes holding for now a sound decision in my opinion. It wouldn't be too difficult to get the SP back where it was in February, that's for sure, and that's double what it is now.