Ann: Updated Corporate Presentation, page-14

Fair comment however many non holders' interest lies with IRC
who are a major s/holder in RWD.
IRC holding 6m shares took up their recent entitlement.
IRC and RWD share the same Nedlands,WA office.
NB-I have recently been a bit negative on IRC's investment
in RWD a legacy of when MR ran IRC however since brought to my attention
that MR left IRC with some really good gold assets(Anthill)and ofcourse the
huge Richmond(QLD) vanadium resource.
So----my apologies to MR.
Good luck RWD holders.