Ann: RC DRILLING COMMENCES AT HORN ISLAND, page-17

Shorttermist stock holders should move on. This is a long term play. Mining always is. Sure you can take a punt on a big discovery and ride the uptick but the real upside is when you get into production. The scoping study is the first stage towards a real mine. Mining is like any other infrastructure project. You can’t just say something and it will happen. It needs carefully planning thoughtful analysis of what is going to deliver the best long term value. Additional drilling can only go to provide a better understanding of the resource and mining viability.

Everything always takes long than you think. But as long as you are progressing forward that is what we need. Nothing has negatively changed in the last two years at horn. There’ll always be a need for more capital but without it you will never get to realise the big end goal.

I look forward to being a long term investor and hope this will all work out as planned.

The founders wouldn’t be wasting their time for years unless they believed in the opportunities. Pretty straightforward really.