production update at davyhurst

Hi All,

See attached email I received from MK, important number is 1400 oz per week which equates to 6,076oz/month compared to 2,569oz/month in 3/08 quarterly report. So production rampup is in process.


Thanks for email.
Riverina is happening according to schedule - no real delay.
Mt Ida is three or so months behind because of the previous owner's
management which we inherited and I should have shot them earlier than
we did. The mine has started stopping and will hit full production of
4,500 oz in June.
Mt Magnet Iron Ore - no as have them focusing on the gold currently.
Davyhurst last week poured 1400 oz
Not planning to give month by month blow as my focus is on getting it to
break even and then profitable. I answer enough emails now and don't
want to spend my time emailing as everyone will have their points to
make.
MK


Email header attached for confirmation:

"Michael Kiernan"
08/05/2008 07:36 PM
To

cc
"Juliet Morrin"
Subject
RE: Shareholder Query on Production