rtm report due

As stated in the last quarterly report DATED 30/9/06 the following
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NOW DUE
SKELETON COAST DIAMOND AND HEAVY MINERAL SANDS PROJECT - NAMIBIA
ASSAY RESULTS
COMPOSITE GENERATION
Of the 1,566 HM residues received, 1,279 have been selected to be combined into 54 designed
composites. By the end of the Quarter 28 of the 54 submitted composites had been compiled and
analysed. The date of completion for the assaying of these composites is expected to be late November
2006.



BADJA URANIUM PROJECT - WESTERN AUSTRALIA
ELA 59/1249 (100%)
During the previous financial year the Company submitted an application for an Exploration Licence
(ELA59/1249) of 205 square kilometres covering a potential uranium bearing palaeochannel near Yalgoo
in Western Australia.
This tenement application is currently pending and subject to no objections being lodged, grant of
ELA59/1249 is expected to occur by mid November 2006.
NOW APPROVED 4/12/06
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LIWALE URANIUM PROJECT - TANZANIA
PLR 3723/2005 & PLR 3743/2005 (OPTION TO EARN/ACQUIRE 100%)
Desk top evaluation of the project progressed throughout the Quarter to the stage where a field visit has
been planned to determine the prospectivity of the project area, and guide the direction of the Company’s
involvement.
A field visit has been scheduled for the December Quarter

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METALS

ERONGO POLYMETALLIC PROJECT - NAMIBIA
EPL 2805 – 2811 (100%)
INTRODUCTION
The Erongo Polymetallic Project consists of 7 licences covering approximately 4,600 square kilometres
and includes Base and Rare Metals, Industrial Minerals, and Precious Metals. The area contains a wide
range of mineral occurrences including gold, copper, tin, lead, zinc, tantalum, tungsten, rutile, graphite,
and rare earths elements.
World class ore-bodies that exist in close proximity to the licences include; Navachab Gold Mine (126.3Mt
containing 4.7M ozs of gold); Uis, the world’s largest open cut hard rock tin mine, and the Rössing
Uranium Mine.
Much of the Company’s early work focussed on the evaluation of the known metal occurrences, with a
particular focus on rare metal pegmatites, especially those containing tantalum.
The acquisition earlier this year of high resolution hyperspectral survey data covering the entire project
area will allow the Company to quickly prioritise any gold and base metal target areas for follow-up
purposes. Final products for the trial area were received early in the December Quarter.
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SKELETON COAST DIAMOND AND HEAVY MINERAL SANDS PROJECT - NAMIBIA
EPL 2698 – 2700 (100%)
INTRODUCTION
The Skeleton Coast Exclusive Prospecting Licences include Precious Stones (diamonds) and the Industrial
Minerals Group (Heavy Minerals: ilmenite, rutile, zircon, garnet etc). The granted licences cover a 220
kilometre length of coastline comprising significant volumes of marine and coastal alluvial deposits
extending up to 5 kilometres inland. Dune sands parallel the coast and contain visually abundant heavy
minerals (HM), and gravels that locally contain diamonds. Valuable heavy minerals (VHM) are those
minerals that have an economically significant value, and include zircon (up to A$800 per tonne), rutile
(~A$600 per tonne), and ilmenite (~A$100 per tonne depending on quality).
In the first half of 2006 an air-core drilling programme was completed on the Skeleton Coast Project,
which drew on the results of the 2005 assaying and mineralogical test work. Using a Wallis Drilling Mantis
75 drill rig, 672 holes were completed for 5,379.5 metres in a programme that spanned over 115
kilometres of coastline (from a total of 160 km) within EPL/2699 and EPL/2700.
HM assay results returned from SGS Lakefield of South Africa are considered to be very encouraging and
confirm the visual estimates made by geologists in the field. Results as high as 60.2% total HM have
been reported and are in line with results received in the 2005 test pitting programme.
Assay results received from the 1,566 samples submitted averaged 8.8% HM, with over 29% of samples
returning grades above 10% HM. Slimes content averaged a low 3.8% across all samples assayed.
Following the review of results from the 2005 pitting programme the prospectivity of EPL/2698 was
downgraded and as a result drilling was not conducted on the licence.
In a letter dated 27 July 2006 the Ministry of Mines and Energy in Namibia approved the conditional
extension of EPL/2699 and EPL/2700 subject to the submission of a relinquishment report for EPL/2698.
This has been done and the Company is awaiting confirmation of the relinquishment (EPL/2698) and
extensions.
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• Snowden Mining Industry Consultants Pty Ltd was appointed by Reefton Mining N.L. to complete
a JORC compliant resource estimate for the Skeleton Coast Diamond and Mineral Sand Project in
Namibia.
• Heavy mineral assay results were received for all 1,566 drill samples submitted to SGS Lakefield
Research, South Africa.
• Assay results from the 1,566 samples averaged 8.8% heavy minerals, with over 29% of samples
returning grades above 10% heavy minerals.




DIAMONDS AND HEAVY MINERALS