what can we expect?, page-11

Just listened to the telecast. I was like watching a tennis match as the analysts lobbed questions about M&A and TB kept hitting them back flawlessly.

TB did answer questions about the exploration around P Hill.

25% of the exploration is around converting resources to reserves at P Hill (defining Munda and Kalaya etc). The results of this will come out in the resource upgrade in late Nov.

Close to 33% is spent regionally near P Hill. TB said they are still looking at IP and geo physics data. He indicated that every 6 months OZL does a strategic review of the exploration to assess the results and where to look next.

They have started drilling into Munda from underground.

431 - you are right, there is still hope. I get the impression that they are doing this exploration in a very planned manner; being diligent in what they do. DJ_420 may be able to shed some more light on this. I think we all need to make a judgement call on the prospects of another P Hill and what that would or would not mean for OZL.

They are doing in fill drilling in Cambodia. It is a gold resource, so I think they would want to flog it sooner rather than later with the current high gold price.

HT1