sig. deep intersections of massive sulphides, page-51

Lets take stock once again:

- 58m in cash

- zero debt

- earning interest on the cash

- still earning income from White Dam gold production

- owed somewhere in the vicinity of 2m to 4m from copperchem for great australia royalties. Copperchem have disputed the calculation, so this is being worked through. Expected royalties over the the next 3 to 4 years are 20m to 25m based on the 2011 agreement

- mt colin resource that was going to be sold outright to xstrata for something in the vicintiy of 20m based on current resource. We now have the announcement yesterday which should change the game.

- kangaroo rat resource which is about to be upgraded based on yesterday's results. Used to be worth somewhere in the vicinity of 10m, but could be more now given how it is shaping up

- right next to kangaroo rat we have the existing wallace south gold resource. Announcement of a couple of weeks ago shows how well that is shaping up. Starting to look like our next gold producing resource after White Dam. We already have the plant and PLY JV to move on this quickly.

- we should also get a JORC resource for Salebury very soon based on June announcement. This is expected to be similar in size to kangaroo rat.

- existing turpentine resource which is due to be updated and results expected within next 2 to 3 weeks.

- haven't even mentioned early results from our tier 1 targets yet which will also be coming soon!

- proven track record and conservative management

all this for an EV of zero!!!!