gir is being re rated, page-2

Forgot to post why...see below...and more to come.


Iron Ore: RC drilling at the Company's 100% owned Beebyn-Weld Range project in the emerging Mid West iron
ore province returned significant direct shipping hematite intersections including 38 metres @ 60.6% Fe, and 30
metres @ 60.3% Fe. An initial resource estimate is planned following further follow up drilling. Promising iron
ore results were also returned from the 100% owned Earaheedy and Yerecoin iron ore projects.
Uranium: Follow up drilling on the Company's Lake Frome JV tenements adjoining the operating Beverley uranium
mine in South Australia returned potential ore grade uranium intersections including 2.76 metres @ 0.109 % eU3O8.
Rock chip sampling at the Olary JV, also in South Australia, returned results up to 2.2 % uranium.
Gold: Drilling continued at the 100% owned Snake Well gold project, to identify new targets to extend the
existing 170,000 ounce gold resource. Scoping studies on a low capital cost start up to production are continuing.
At Munro Bore, an initial resource estimate was completed and an acceptable option to purchase offer was
received.
Nickel: Field follow up of high priority EM conductors from a late 2006 major airborne EM (VTEM) survey
is planned at the Daltons JV. At the Cookes Creek Western Extension JV, airborne EM anomalies were also
defined for drilling follow up.
OTHER: Substantial joint venture partner funded exploration activity continued, with drilling and geochemical
surveys at Blue Rose-Olary (copper, uranium), Yuinmery (gold) and Beasley West (gold), and geophysical
surveys at Cookes Creek West (nickel), and major geochemical programs at Kathleen Valley (nickel,gold), and
Clever Mary (gold).