Ann: Quarterly Cashflow Report, page-20

Hi Nij

I appreciate many trading ideas methodologies are all very interesting in themselves but I’m definitely not keen on trading Peel at this stage.

As luck would have it if I sold it would no doubt bolt, and I’d have trouble buying the same size of holding ever again.
I’d say we are maturing very well as a company and further recognition via positive results and by any interested larger company will logically see the sp advance significantly given the tight nature of the top 20 register.

I’d expect June July to be significant months with lots of results due, maybe a need to raise drill funds and a PFS consummated with a deal in principle to either sell or mine Mallee Bull..

I’d like to see us retain a decent percentage in a royalty as well from MB T1 Silver Ray and the surrounds given that it will still grow at depth and probably in other varied dimension.

As for Wagga Tank Southern Nights Fenceline and The Bird I’d love to be reading this in 12 months only to see for a fact that these areas ergo the “magic pink circle” associated with our current discoveries, is one massive system with a common source, many kilometres around and at a great very strong economic depth.

I’m ok if you disagree.
I pose that in a while we shall be sitting most contentedly on major league discovery, with a Tier 1 rating.

Conservative analysts, and no doubt some good resource commentators may say it’s too early to say, however this is the time to be well set for a major win, before the nature of the matrix of our mineral mix, resource tonnages and mine planning, is presented, fully & formally outlined.
Sarg