reinstatement: underwriting

UNDERWRITING OF 31 OCTOBER 2007 (“DRXO”) OPTIONS

In accordance with Listing Rule 3.11.3, the Company is pleased to announce that it had secured underwriting for the exercise of 30 million of its 31 October 2007 (‘DRXO”) options. Details are:

Underwriter: Patersons Securities Limited
Maximum Underwritten Amount: $7,500,000
Fee: Advisory fee of $30,000 and an underwriting commission of 5% on the amount underwritten.

Timetable
Notification Date (Last day to send out expiry notice),
3 October 2007
Notification of final Exercise Price of Option, 8 October 2007
Last day to lodge Appendix 3B with ASX, 22 October 2007
Quotation of options ends at close of trading, 24 October 2007
Quotation of underlying securities on deferred settlement basis, 25 October 2007
Expiry Date, 31 October 2007
Shortfall Notice Deadline Date (notice of the Shortfall Shares and Certificate), 2 November 2007
Shortfall Settlement Date, 15 November 2007
Allotment Date, 20 November 2007
Allotment of Shortfall Shares, Allotment Date and Despatch of shareholding statements, 22 November 2007

The funds raised will be used to enhance the Company’s working capital position for the ongoing evaluation of its heavy mineral sands prospects and copper projects.

END

Cheers
SBC