Significant Events after the Balance DateOn 17 July 2009, the...

Significant Events after the Balance Date
On 17 July 2009, the Company announced that its non-renounceable Entitlement Offer had been successfully closed. Under the terms of the Entitlement
offer, shareholders were offered to subscribe for 1 new share with 1 free attaching listed option exercisable at 30 cents on or before 30 November 2010
for every 2 shares held at a subscription price of 13 cents. Shareholders subscribed for a total of 22,661,642 shares or $2,946,013 before costs.
On 4 August 2009, the Company announced that it had placed 25,400,000 shares with 1 free attaching listed option exercisable at 30 cents on or
before 30 November 2010 or $3,302,000 before issue costs of the Shortfall shares from Entitlement Offer that was closed on 17 July 2009.
On 23 September 2009, the Company held a General Meeting of shareholders at which shareholder approval was granted to repay 100% of the
unsecured loans from Jungle Creek Gold Mines Pty Ltd by the issue of shares. The total of the loans including interest at 23 September 2009
totalled $3,305,098.

IE THEY HAVE SOME CASH