Thoughts

While we wait patiently for the Western Queen results a few thoughts about the near future.

1) The company has updated us on the results of Munarra and Earaheedy both of which were of a
positive nature however didn't produce a rise in the SP and with Zinc and Lead out of favour is
it worth throwing more money in that direction?

2) I have 2 thoughts on Western Queen: 1) is that that that have found mammoth gold and while we
wait they are formulating a mining plan to make us a producer and release the information in
conjunction with the drilling results which will sky rocket the SP allowing them to do a cap raising
for funds to get us going. 2) the results aren't that great and they will inform us along with a piece
of positive news regarding one of the other projects in the form of an update to halt the slide in the
SP because sooner or later the will need more dosh.

3) After what didn't happen in Canada with the 2 projects which although speculative and costly were
they that necessary given that we have so much to explore in the Pilbara.

4) With Lamil and Fraser Range J/V's we have to wait for our partners to move on those as we are not
in control...however either one could be an ace.

Gold is on a high so let's hope Western Queen delivers if not for the next couple of months I expect to see
a slow negative impact on the SP.

Just my thoughts.