deal, page-15

Howdy Aly people

BlueCrest as of today now holds a substantial parcel of RNI shares (42.87M). RNI's proposed purchase of the balance of the Grosvenor tenements was approved at an RNI EGM today. BC gets some cash too plus options.

I believe BC will be a long-term investor in RNI because of the high prospectivity of the Narracoota Volcanics. No doubt ALY has a decent chunk of NVs too (how much?). If so then BC may hang around for a while.

I think that companies with tenements containing some decent lengths of NVs will be sought after. Try to get a hold of a recently-issued Macquarie Eq Report on SFR for some very readable stuff on vms cu/au and the NVs.

Cheers Shady