mon loan, page-15

I sent an email to Mr Rothery this morning asking about the outstanding money and whether the non-repayment could be having an effect on the share price of IRL.

This is the response received from Eoin Rothery a few minutes ago:

Many thanks for your support. We made the loan in December and two thirds of it has now been repaid according to schedule. We remain confident that the rest (and interest) will be repaid as per the agreed terms over the next couple of months.



We cannot explain the drift in the share price; we are the first foreign company to start a mine in India in the last 20 years; we have had exploration success and we have made an important investment in a new VMS (Cu-Au-Ag-Pb-Zn) province. We have publicised all those efforts. I’m not sure what else we could do – we are currently concentrating on taking our copper mine to full capacity by mid year.



Regards



Eoin Rothery

Managing Director

India Resources Limited

PO Box 870, WA 6872

989 Wellington St

West Perth WA 6005

ph +61 8 9327 7444

mob 0420904332

www.indiaresources.com.au