20 February 2009The ManagerCompany Announcements...

20 February 2009
The Manager
Company Announcements Office
Australian Stock Exchange Limited
Exchange Plaza
2 Esplanade
PERTH WA 6000
Dear Shareholders

UPDATE ON RECOMPLIANCE PROSPECTUS

We wish to advise that the completion of the recent prospectus issued on 6 February 2009, has been delayed due to amendments required by the Australian Securities and Investments Commission in respect of some of the wording used to describe the Malala project historical drilling results in the Geologist’s Report including investors potential interpretation in relation to the JORC Code - Appendix 5A of the ASX Listing Rules.

The Company and the independent geologists have since addressed the issues raised by ASIC and expect to reissue a Replacement Prospectus on Monday, 23 February 2009.
We apologise to our shareholders for this unforeseen delay, and wish to assure you that we are working to resolve these matters as soon as possible. Further announcements will be released in due course.

Yours faithfully
LUKE MARTINO
Company Secretary