Ann: MINING LEASE APPLICATION OVER GIMLET, page-9

Wack - - Gimlet ozs - lets say 400m max, currently 100m down dip, optimistically at best 10m wide on average which it is not by 2.6 SG and then go 5g/t grade = 1,040,000 tonnes and therefore 168,000 ozs - this is an absolute max ON CURRENT DRILL DEFINITION - if i half the width - more realistic i have the ozs back to 84,000ozs is this enough???? - maybe maybe not

also mining lease - i thought they just said they have put in for the ML - if this is the case might and i do not know but surely that is not a super quick process and so what happens in the meantime.

I did just think that maybe this go slow for me might be to allow them to submit the ML application with the minimum resource they can get away with so maybe that makes a bit more sense but again what then, sit around awaiting for the ML to be granted - it could be 6 months away - and if correct then why not keep drilling - they have the cash and they have the capability of doing another CR to get there without too much damage - no news and no actions are equally a death knell to Cos and the sp sinks - like it has, and then when they want to get going again their sp is so low it is highly dilutive - POG going okay here and i would try and make hay whislt it shines and cont exploring AT the same time as doing what they have said REsources calcs, ML applic, Metallurgy geotech etc etc - it does not have to be one action at a time - and also to stay listed these days on the ASX for small Cos is expensive apart from salaries office admin etc and that eats away from your cash position if you do not keep up a certian pace in exploration - money in ground as soon as u can if u are onto something i say

both of us looking for the same thing but i would be far more aggressive in getting there

cheers