questions for ja, page-3

i was at the conference for the whole day today. spent quite a bit of time at the ivr booth and of course attended ivr presentation.

there was a surprisingly high tunout for ivr pres. obviously there's more interest in ivr than i had thought.

ja presentation was very technical and would have appealed to geos and mining engineers but not to most retail investors. i would have preferred a simpler, high-level presentation with emphasis on the commercial potential rather than a hard core geological lecture on the moonta corridor. i pointed this out after the pres and apparently this is a strategy to target the technical analysts at banks/brokers. the strategy being to attract institutional investment as well as to indirectly influence retail investors via brokers. not sure i agree but at least it explains the style of pres.

rosey, re yr question on why ivr started with paris rather than helen, ja commented that the paris soil geochem results were, on the whole, more attractive than helen. having said that, ja commented (as a personal opnion) that he is hopeful for similar quality results from helen. the bulk of peterlumbo drilling over the balance of 2012 will still concentrate on extending the resource at paris but will include helen and poss other peterlumbo prospects as well.

ja seems incresingly confident in his "moonta corridor" model which bodes well for future exploration prospects beyond peterlumbo.

ivr are planning to start drilling the bute iocg prospect within the next few weeks and they seem pretty excited about this.

chiefyj asked about graphite on the ivr tenements. ja commented in his pres that there definitely was graphite present in their (peterlumbo?) tenments. he didn't give any details but he sounded quite certain about it. no doubt it will be targeted further down the track but i think he just wanted throw the comment out there to generate more interest as graphite seems to be flavour of the month atm. i didn't get a chance to ask any questions re this after the pres but i may do so over the next two days. not sure if ja is staying past today but presumably there will be some ivr staff on the booth.

i'm off for a beer. it's been a long day ...,

k