Understand the frustration of holders who have seen the share...

Understand the frustration of holders who have seen the share price go from 59c to 35c today whilst MAT, SFX and BOA have largely held their value despite not being close to drill testing their targets.

The Director selling didn´t help. Even though it was probably due to an unavoidable tax issue on exec options that have caught a lot of execs out, a lot of investors don´t know that.

That said, you cannot blame the management for the weather.

The Fraser Range is extremely rugged and remote country. SIR built their own tracks in there over the years. MAT have had to build their own access tracks to their sites. There are no sealed roads or nicely maintained gravel roads, these are most likely bulldozer tracks, which turn to mud with a bit of rain.

The share price plunge means its a riskier proposition for all of us as some will be under water pre-drilling and quite exposed should negative news come. However, I am pretty confidend that drilling will deliver some good news and that some of these conductors related to ultramafic hosted nickel sulphides. Whether such sulphides are large enough to constitute an economic deposit, thats the big question.