Ann: Annual Report 2011 , page-2

not really worth reading....

current liabilities are about $500,000, with about zilch in the bank. the company mentions a prospectus issue to raise $800,000. the question that needs to be asked - but will that be 800m shares at .01c, or 400m shares at .02c???.

the good news is , that for most savvy investors, this will not need much more than tossing in, an extra $10. mmm - but $10 will still buy a cheap cask of wine - which might be better value

the head honcho gets about 1/4 million dollars per year - and then an associated company gets a similar amount - anyway, but that is probably par for the course.

mmm expenditure commitments on tenements for the coming financial year are about $1.5m.


by the end of the year, the company will have to have more than 2 bn shares on issue.