Hi RamsayI have been a little busy of late, so sorry for the...

Hi Ramsay

I have been a little busy of late, so sorry for the late reply.

Just briefly.

IMO the plans for RMG was originally going to be built around Uranium, but once they started looking at the sites in SA that were approved, copper became the main focus.

At the start of the year, I mentioned that they were minimising costs and limiting spending, to preserve cash. Therefore it has not been a very interesting period.

IMO, Holloman had plans with Strongbow, RMG and ADD etc to become a major player in Australia. Once the credit crunch hit all plans had to be be put on hold.

The QLD sites from discussions with management and other companies in a similar area are promising, but with limited cash, the main focus at the moment is with the copper in SA. If the credit crunch had not come along I think more time would have been focused in this area.

It is my understanding that Oil Shale is very costly and the price of oil needs to be over $100 for it to be economical. In disussions with management they are interested in oil shale and believe they have a way of mining for it, but a lot more funds would be needed.

The other possibility is with Holloman Minerals aquiring coal licenses that possibly it maybe something they may look at. Coal seems to be in the headlines in QLD atm.

We still lack clarity on a number of issues which hopefully will be cleared up soon.