Ann: Telecom Hill and Mt Padbury Deliver More DSO, page-9

re: Ann: Telecom Hill and Mt Padbury Deliver ... Mac, I'm not overly impressed with the P levels at Mt Padbury, but CSA Global didn't seem to be too concerned at this stage since the recommendation was to conduct testing with the aim to reducing containments to acceptable levels. Personally, apart from the recommended testing and perhaps further rockchip sampling at Mt Padbury, I'd be concentrating all my efforts and funding on both magnetite and DSO exploring at Telecom Hill.

We have a magnetite JORC in-place at Telecom Hill, and the DSO results are pointing in the direction of Telecom Hill, so imo that's where Gary and Terry should be spending our money on. The other point which should be seriously considered is the geographical advantage of both magnetite and DSO being mined in close proximity to each other, as we're likely to have at Telecom Hill. The cost savings in infrastructure would be enormous. Furthermore, cost and time savings would also apply to a host of services and approvals which make up a mining application, e.g. EPA approvals - Flora and Fauna, Environmental Impact Studies to name a few.

We're still waiting on some DSO drilling results for Telecom Hill and that should be closely followed by resource estimates for both Mt Padbury and Telecom Hill. Certainly plenty of news flow in the upcoming months and with our biggest seller fading into to the abyss, there's plenty of room for the share price to head north.