worth a look in my opinion..!!!

TMX is well worth a second look in my oponion - below is a brief outline of the company.

TERRAIN MINERALS LIMITED [TMX] - Last 2.6c

Website www.terrainminerals.com.au

Quoted Shares On Issue 231,021,483

Market Cap $ : 6,006,558

After the rights issue: market cap of 6.6million with 2.8million cash plus 6.7million still outstanding from asset sale (details below) plus other tenements worth estimated $3 to $4 million~ its cheap at 2 cents!!

TMX are doing a Rights Issue 1:2 to raise $2.3 million at 2cents – this will be uses to drill the Aztec Dome Nickel project – the main reason I am in the stock.

The company believe that the same ground 11km away being the Kambalda Dome which had nickel at surface is the same ground they have but down dip through there 42 square Km holding (basically it’s a bit deeper on their ground).

The company has now repaid all its debt!!! New MD Alan Coles is doing big things!!!

Asset Sale Great Western, Bundarra: $8m (equals 3.4c per share undiluted) made up of:

» $1.3m cash received October 2011

» $700k cash on first gold production or one year after receipt of initial payment

» 1.0g per ounce produced up to a total value of $6m with a minimum of $600k per year for 10 Years

So they are well funded and only need funds for exploration!!

The KAMBALDA DOME Produced Over 1,000,000 tonnes of CONTAINED NICKEL PRODUCED from 1968 to 2002 and still producing!!

Work completed at Aztec to date:

Aztec Dome East Kambalda - Nickel Project 46 sqkm (priority)

· Originally explore in the 1960’s by BHP with little work prior to Terrain

· Under explored tenement package in known nickel province

Completed Exploration Programs:

· Geophysics

· Gravity & Magnetic

· Induced Polarization (IP) & Electro Magmatic (EM)

Geology

· Mapping and petrographic identification of basalts, minor shales, ultramafics and syanite intrusive

· Structural interpretation

Geochemistry

· Soil analysis

· Trace element analysis and comparison of rock types

Drilling

· RC and Diamond drilling of overlying basalt into top of ultramafic

· Identification of diseminated nickel sulphide , pentlandite and millerite up to 0.32%



Work completed to date show that Aztec Dome has very similar characteristics to the Kambalda Dome


Aztec Dome Exploration Program

Explorations Aim is to Identify the Base of Ultramafics

Stratigraphical Drilling – budget $1m (results late 2011)

· Two One kilometre deep diamond core holes

· Aim to Find the base of ultramafics (same rock profile as Kambalda)

Drill Identified EM Target –

· Four holes 400m deep & One 150m deep on the Eastern Edge

· RC with diamond tails

Follow up program - budget $900k (results 1st Q 12)

· Geophysics: Down hole and Helicopter EM Surveys

· Follow up drilling: Single 1km deep Stratigraphical diamond core

· Re model existing data based on results

Aztec Dome Proposed Stratagraphic Diamond Drill Holes

(Two holes 1km each Deep)

Aztec Dome Geophysical Map

(SEE TMI Magnetics IMAGE)

The company is about to start its Aztec dome drill campaign January 2012 on its large 42sq-km Strategic Land Holding in the Middle of a World Premier Nickel Province.

This land package has been left under explored due to BHP dropping it after it had found other nickel deposits in the area.

It has been held in various junior exploration companies as a third class asset that was not looked at (it has had one or two holes drilled looking for gold).

Terrain picked it up as a listing asset and did some work prior to the GFC and getting in to Debt and other problems.

This is all now behind Terrain minerals as the new MD Alan Coles has come in turned the company around and is now ready to have a real go at unlocking The Aztec Dome Nickel Project!!

This is a real company making asset for Terrain and if successful will see a lot of buying interest.