why is this stock falling so rapidly..., page-7

Phoned Wayne a short time ago. The main points discussed were:

Other than hole 007KWAC034, which was drilled in April at Taranaki, no other holes at Taranaki or Ruapehu struck ore grade nickel. That's why there was no compehensive drill results tabled in the agm report.

Wanaka and Kaikoura will be the areas focused on for the next drill program early in the new year. Some of the holes ended in mineralisation as the air core drilling was quite shallow, hence the need for an RC rig to penetrate the harder ground at greater depth. There is a rough estimate of around 700,000 tonnes grading .7% nickel at Kaikoura (using the dimensions of the mineralisation body dilineated so far - 250m long, 75m wide and 25m deep). Those measurements equate to around 5000t of nickel close to the surface, though the follow-up drilling is needed to confirm and hopefully expand on this. The body of mineralisation is open to both the north and south.

Wanaka is still the main area of interest as it butts up to GME's resource.

Wayne seems positive about the gold prospects, some of which will be drilled in the new year and also the base metal projects which will be drilled in the futureonce the peliminary work has been completed.