Ann: Quarterly Activities Report and Cash Flow Report March 2016-TMX.AX, page-10

Should see some resolution re. Great Western in the next month or so.50,000+ ounces at an acceptable grade equals $80mil of contained Gold,less processing and extraction costs would leave a reasonable margin,one would think.It is also free of rehabilitation liabilities the Bundarra leases were subject to.My take on Monet is that they are seeking to moneratise on the basis that having established that a small high grade system exists,close to infrastructure,the 25-30k spend to drill and acquire the tenement has been justified.This will either provide an income stream,or in the case of a sale agreement,many multiples on the cost of acquisition. With regard to Gimlet,it may be interesting to watch developments in MRD's drilling campaign next door.Indications are that their previous DD holes were 250-300 metres too shallow.The drilling campaign in the next 4-6 weeks,will confirm if a massive sulphide system exists or not.In the success case,watch the major players scramble over Gimlet.The same ultramafic lithologys underlies the tenement. Reading through the report,the reference to Copper and Lithium opportunities in continental Europe,is a new one.I would not like the company to play the Lithium drawcard unless the deal had substance to it.There are too many ASX listed companys with 20 M+ MC and above,offering nothing but blue sky potential in this space. At a 2M MC.In for a penny,in for a pound as they say.GLTOH.