quarterly update, page-2

Looks desperate when their first claim to fame is the surprise of an unexpected share price rise (what a joke).

Prior to which as recently as end of November 2010 they trumpeted to the market in their Management Presentation...

"Australasian Resources Ltd (ASX Code: ARH) will have secured a partner to develop the Balmoral South Iron Ore Project by 2011"

Hollow words - looks like they're going backwards - now just talking about their advisor introducing them to Chinese investors?!?!?

Looks like they'll once again be sweating on Big Clive to extend and increase his working capital loan for another year.

C'mon Clive! - these guys need a good kick in the teeth otherwise the boom market will be bust by the time they've stitched up a deal........and us long suffering shareholders will be in for another nuclear winter of share price oblivion. Get a move on mate.