This is the final of the three part report associated with the...

This is the final of the three part report associated with the AGM and really needs some supplementary comments and information being provided by other Hot Copper members who also participated in the after AGM discussions - my personal focus was to get a better understanding of Treasure Island exploration, so the report is biased that way.

Dean Goodwin was obviously the target for most attendees and by bad luck was standing in a corner with no escape when the meeting concluded.

Impossible to list the number of questions being thrown at him, so have just had to gist out an overall picture of what he had to say with an admission that there were a few questions where I did not hear the full answer – being a gist, please do not quote me word for word.

First up, he is confident that there is gold in mineable quantities out there – if it is not one elephant, there will be enough cows to make up for an elephant (this is a personal, rather than attributable professional observation).

Drilling is being done to a specific plan that he has used before with great success and he is not going to divert from it, as it is extremely cost effective in covering such a large area.

There will be a lot of holes that come up with no shows, but that is not to say there is nothing under them, rather that hole only goes down to the base of oxidation where it is stopped (if a hit occurs it indicates bisection of the supergene zone he is looking for at this point in the exploration programme).

The second round of drilling will concentrate on the discovered supergene zones with the aim of identifying primary ore zones, with a third round of diamond drilling to identify the orientation, depth and dip of any ore zone discovered, and after that it is just a matter of drilling the crap out of the discovery.

There is no doubt that exploration has been hampered by weather and delays in getting assay results (was later mentioned in the bar at Kalgoorlie that one of the Hot Copper crew had some information on Focus purchasing some new assay equipment to give some field sampling assays in support of Treasure Island exploration – anyone got any knowledge of this?)

Rather than stuff around awaiting assay results, a decision has been made to commence reconnaissance air core drilling next month of a Palaeochannel system to the north of Treasure Island (not illustrated on any maps released to date) - Dean did not indicate the methodology he intends to use on this system.

Dean kept fairly well on script with his remarks, but there was no disguising his excitement about the results to date and the comparisons he made to the Lake Lefroy discoveries.

Managed to get a quick word in on the layman understanding issue and he indicated they are aware of the problem and the need for more visuals to accompany his reports - got the distinct impression that due to him being on site just about full time he is pushed for time in preparing reports with them being left to the last moment.

With time running out, had a word with Don Taig on how the Board was reacting to the remuneration first strike issue and was reassured by what he had to say, along with the need for proactive shareholders to assist in getting the message out to shareholders to at least submit a proxy for next years AGM (even if it is just to abstain).

Likewise, a quick chat with Campbell Baird about nothing of consequence, except to thank him for the refreshing off the cuff reply to my production guidance question.

Got to admit that I was particularly impressed by our two new directors who appear to have a good sense of humour and were as sharp as tacks in displaying this in some of the comments they made – to me this is always a good sign, above and beyond their well stated qualifications.

Do not intend to break the anonymity rule I set myself in revealing what other Hot Copper participants had to say about the meeting, or their sentiments, so no questions on this aspect please.

cheers, kentwang