ann report, page-2

some snippets.

after 12 years of patient waiting
is about to explore the Musgrave Block and
we are hoping for a strong and prosperous year.
The Musgrave Block tenements have been the
Company’s cornerstone exploration area for many years. The first two tenement applications are about to be awarded by the South Australian Mines Department and IGO, as the manager of the joint venture, has already prepared a significant exploration program centred on the 1970’s Wan ka Wan ka Hill drill
holes, which indicated that possible nickel
sulphide mineralisation may be present.

The Company is currently in a sound
financial position with over $7 million
in cash, receivables, listed and unlisted
investments