annual report, page-59

Spoke to JA at the mining conference yesterday.

They expect the heritage issues to be cleared up very soon, so that drilling can start on the other Peterlumbo targets.

The JORC is most unlikely to be out this year. It is expected that assays from new drilling will make such a difference to the resource that doing one now would be pointless.

Keep one's eye on the big picture. Although the Western sheet is the focus, Paris is open all round. Helen, Alexander etc. all have similar soil chemistry to Paris. The hole drilled SE of Line 1 hit silver too.

Whilst waiting for John, I was talking to Roger Marshall (Chairman) about a plant, and approx dollars. Very approx, $50m for a CCU style plant to start with, producing far more than CCU because of the grade, and recovering the Pb and Zn too.

My hope is that the JORC will put a rocket under the SP, so we can raise another $70m (or whatever) for not too many shares. Why wouldn't a 100m oz resource send the sp up and no, no numbers have been mentioned by the company, just my supposition.