Ann: Response to ASX Price and Volume Query, page-16

Well, .006 is now gone and bids are now building at that price. .007 is already getting nibbled at.

I've taken the position here at MSR for the one main reason and that is in the off chance that Calderwood secures a conglomerate play in the Pilbara.

Why? One thing I have noticed in most of the Pilbara plays is a distinct lack of management focus on the conglomerate themselves. Not only that but proven performers who have built a mine let alone a gold one at that.

The Pilbara conglomerate story now needs someone with the background and experience like Claderwood to make the Oz brokers and funds to really take notice of the story developing in Pilbara.

Haplo