Quarterly report for the period ended 30 September 2011

28 October 2011

Highlights for the quarter ended 30 September 2011 include:

  • Drill testing intersected considerable cobalt mineralisation at the Pyrite Hill Cobalt Deposit. Thick and continuous horizons of cobaltiferous pyrite extend from surface outcrops to at least 300m down dip and remain open at depth.
  • New resource calculations are being undertaken to refresh the current Inferred Resource for the Pyrite Hill Cobalt Deposit (10.6 MT of 2.2 pounds per tonne of cobalt).
  • A geophysical survey (IP) is mapping extensions to the cobalt mineralisation outside the drill area and this is expected to define along-trend drill targets.
  • The 2011 Annual Report to Shareholders has been completed and forwarded.
  • The annual meeting of shareholders is scheduled for Monday, 14 November 2011 at Level 14, 52 Phillip Street Sydney NSW, at 11:00 am (Sydney time).

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