rsn future activities update

I spoke with CFO and acting CEO Kevin Grice yesterday and addressed the following:

In regards to the recent Insolvency issure:

KG: I understand this isnt a major issue just something in regards to back taxes with the ATO? There has been an insolvency appointment. This is an ATO issue. We do owe them, but will pay in the next couple of weeks.

In regards to the Sydney Flats, and alluvial gold test analysis:

KG: The lab made an error in the analysis of the 2 drums they tested. Renison’s Exploration Manager will be present at the lab to supervise the next group of tests – completed soon. Hopefully the tests will give good results.

In regards to an update on selling the Ashford project?

KG: No progress. New Hope remains our best hope. They are still reviewing their options and this project does not remain a priority for them.

In regards to increasing our cash reserves? Chairman investment or other capital raising?

KG: We are still reliant on the chairman. We are looking at measures to relieve him of this burden. But it may take some months.

In regard to the RSNG credit notes, their expiry in March 2012 and how will this impact the shares/share price?

KG: The notes, which expire on 31 March 2012, will almost certainly be converted to shares. This will increase the number of shares on issue substantially. Hard to see how this could have any impact on the share price. Measures are being considered in conjunction with those in 4.

Again I must say how great it was to receive a reply from Kevin, as you know it's hard to get a hold of alot of company representatives when you want to follow up on company activities.