Ann: Update to Market , page-21

The announcement regarding the copper project was made on 27 May 2011. It stated that ROS was granted a three month exclusivity period over the project. Then there was 30 days to make the payment.

3 Months from 27 May is 27 August 2011 (which we passed three days ago).

ROS therefore have less than 1 month to get shareholder approval, undertake a capital raising and pay for the project. (i.e. It wont happen within that timeframe IMO).

There is of course the chance that ROS have negotiated an extension/will negotiate an extension on the agreement. If this is the case then there should be an update provided to the market within the next couple of weeks to clarify the current status of the purchase.

As per my original posts I still think there is the potential for significant dilution to original shareholders.

I don't think the original resource estimates/structuring of the deal is going to be anywhere big enough to hit the SP targets (in the immediate short term) that other posters where talking about as if it was a sure thing.

All IMO & DYOR.

P.S. I hope I am wrong and current holders are rewarded.