drilling starts today???, page-2

For those that can't be bothered reading it, quarterly summary: (I'm looking forward to the Youkou prelim results in March)

YOUKOU IRON
* Imminent commencement of drilling
* Preliminary results are expected to be released in the March 2012 quarter

OKANABORA
* Surface samples have been taken and placement of camp for drilling to be undertaken, will be a wait and see type situation during 2012.

GABON
* The Permit gives Waratah the exclusive right to commence and execute its exploration work program targeting DSO hematite iron ore for an initial 3 year period, with an option to extend for a further 6 years.

QUARTERLY CORPORATE ACTIVITIES
* Subsequent to the quarter, the Company appointed Mr Terry Streeter as Chairman and Mr Rod White as Non Executive Director (ASX announcement 5th January 2012).

Highlights

* Completed purchase of new (Okanabora) iron ore licence in Republic of Congo-Brazzaville

* New Permis de Recherché granted in Gabon immediately adjacent to the Youkou project in Republic of Congo

*Waratah is now a large landholder in the region, with three licenses totaling over 2,000 km2