re: Ann: Settlement of Mt Richardson Option A... The $6 m...

re: Ann: Settlement of Mt Richardson Option A... The $6 m settlement with cliffs matches IRMs current market capital. The market gives very little value to IRMs projects at present (which is fair enough) but a $6 m cash injection is a bonus. This is still a dog of a stock which I should have sold on its spike to 60c after its rock sampling results at Mt Rich. I will exit at the first opportunity with only Wandoo having promise.

And for those of you who question my 'dog of a stock' comment

-4 reverse circulation holes for a total of 565m were completed at the Valentines Prospect last qrt. Still no results and yet they were 'evaluating' results last qrt.

-Miaree. The company talked up a possible 1-2bt magnetite resource and now the focus is solely on gold. Surface sampling for gold was underway last qrt. No update! No results! Again sweet fanny adams

- Nerramyne Project. The tenements were visited during the December 09 quarter. Samples collected during this reconnaissance visit were yet to be submitted to the lab for analysis during the last qrt. WHY?? No field work was undertaken at Nerramyne during the March 2010 quarter and probably not this qrt. WHY?? Why take samples if you never planned sending them to the lab?? What a waste of time and money!!

I could go on but will wait to read the next Qrtly and hope for some clarity in managements future planning. Robert Sebek pockets a lazy $250000 with a business plan that forever changes and is rarely followed through. I will read the Qrtly with interest.