Ann: Nolans Project- Permitting Update, page-5

Seems to be a general weakness in mining / resource stocks especially a lot of the smaller stocks - I share your pain with ARU, AUZ and NMT.

As you identify it could be that metals/resources generally are the bell ringer for a debt ridden world financial system - clearly as history shows there will be a serious correction at some stage but when and how big only time will tell

At the end of the day we each have to look at the fundamentals of the companies we hold - AUZ for example has projects with resources which are likely to be in demand and the tie up with SKI - a BFS due very soon lots of positives but the price has tanked in the last few weeks - ARU has a great resource with product that will be in demand going forward yet its price has also tanked - NMT likewise a good resource but no support.

Afraid I don't have any "enlightened comments" for you - and certainly would not presume to advise you whether to get out or sit it out?

For me at the moment with AUZ, ARU and NMT I am sitting waiting for developments based on the belief they have good assets that will eventually see them re-rated. AUZ I hope in the short to medium term ARU and NMT perhaps further out.

So afraid I have no pearls of wisdom I can advance - other than we do have to do our own research, determine what our risk appetite is and roll with the punches - this end of the market is not for the faint hearted - the rewards can be great but so can the losses.