taking off.

TAKING OFF!
Perhaps in slow motion?
The "firing" button has been activated and this machine is certainly taking off.
The market just doen't want to know!

Not the even proof of the iron ore deposit has sent ripples through the share price.

The market lacks enthusiastic response because markets are in a diabolical state -- investors not interested in a company the will deliver profits in about 18 months time.

This attitude is not unusual.
SHOW ME THE MONEY! -- FIRST, BEFORE I BUY, is just market mentality and values company share price in terms of past profits.

Those who are patient and buy and hold NOW will see the greatest profits in the long term.

All the evidence suggests NOW is the time!
IMHO.


ANY DOUBTERS NEED TO READ THE FOLLOWING EXTRACTS -------

ITEMS FROM QUARTERLY ACTIVITIES REPORT -------
The Spinifex Ridge Molybdenum Project is currently on track for plant commissioning in late
2009 and production in the first quarter of 2010.

In the meantime, the Company
is working with its investment banking advisors JPMorgan and Morgan Stanley to secure an
interim funding package that will represent the first piece of the total Project financing and
allow the Company to continue to expedite the delivery of the Project during 3rd quarter 2008.
The completion of this interim financing will also provide the Company with the time and flexibility to optimise the full Project financing program.


• 70% of Project capital cost contracted or tended.


The Spinifex Ridge Molybdenum Project remains the world’s most advanced new, large scale entrant into the molybdenum industry.

The critical long lead items within the comminution circuit for the processing facility have
been ordered and manufacture is on schedule.

The resource base of Spinifex Ridge is expected to host a mining operation well beyond the 23
years of Ore Reserves and likely beyond 30 years at the current name-plate throughput rate. It
is also likely to support an operational expansion to at least 30 million tonnes per annum.



IRON
With the Company’s primary focus being the completion of financing for the Spinifex Ridge Molybdenum Project, the Company is currently considering inviting Expressions of Interest from third parties to capitalize on the Iron potential of the tenements.