rension - update on 26/7/12

Hi guys, I had another chat with Kevin Grice the other day (26/7/12) and asked him a few basic questions, the results are as follows:

1. Sydney Flats

I asked about when further exploration/drilling program would be in place, and he said that all future activities are entirely dependent on raising cash.

2. Sale of the Ashford Project

I asked if anything new had happened in regards to selling our share, and he said a number of promising leads have led to dead ends, however New Hope will shortly commence a drilling programmea and we are hopeful that this will lead to an increased resource, which may assist their decision making in buying RSN out. But he is not predicting anything as it’s all very much up in the air.



3. Cash Reserves/Chairman Assisted/Capital Raising

I asked about all the above, and he said a capital raising plan has been in place for some months, but has yet to be actioned and the company is unable to progress any of its tenements until this has been completed. No completion date has been set.

I also asked about a share consolidation, and he said it was definetly on the agenda.