Ann: Quarterly Activities Report-RIE.AX, page-4

Agree Christophe, not the most exciting quarterly I have ever seen but consideration of drilling at Charteris Creek certainly looks encouraging. With copper, gold and molybdenum prices on the rebound this could get some interest especially if the term 'porphyry' gets bandied about the market with any future announcements.

The anomaly certainly has significant potential, the complexity of the geology in the area does however make it difficult to determine this potential without putting a drill bit in the ground. By my estimates the Government grant would be enough to cover approximately half the costs for the 'considered' 800m DD targets.

In my eyes this is a low cost, potential high reward play. On completion of the 'considered' drill program the company should theoretically still have over a million left in the bank. This is plenty to fund further drilling if they come up with the goods, if not the money can still be spent on acquiring new projects or a new JV partnership.

It would be nice to see an update soon regarding timing for said 'considered' drill program.