Ann: 300% RESOURCE UPGRADE AT RADIO HILL , page-37

Matrixx, to be honest with you anything can happen with this company.

They have failed to deliver in the past with some of their promises, and really took a massive hit, when they stopped production from Whundo/Radio Hill.

If they can get back into production and cheaply (considering low metal prices), then they could be rerated. When that will happen is anyones guess. At the moment they are only valued as a explorer, and that is what they will stay, until production. They have also lost alot of street credibility with the way they have run things. But then management has changed, so hopefully things will only go up from here.

The main things I consider in their favour are:
1. Existance of mining facilities already as well as alot of tonnage of ore sitting around ready to go.
2. Tennemant access with the rights to explore/mine the De Beers tennemants (see previous ASX announcements)
3. Chinese support - though don't know if those pockets are as deep as they used to be, nor as willing
4. Iron Ore - though this I'm extremely hesistant to include because of the type of ore, and costs of getting it out of the ground.

Am a long term holder really only because I can see the long-term value. Rode it from 50c 2 years ago up above $1 - so happy to 'free-carry' rest whereever it goes.

To answer yoru other questions - time scales - well I think its a matter of both IF and WHEN. But hopefully crossing everything, it will happen. Production should start within the next year (metal prices pending). As for teh $1.30 - well I doubt that will happen. My estimate is 70c or so once back into production, maybe more depending on what they do with the Iron Ore.

But cash will be the judge of what they do, where they go, and when they start production!