June 2012 Quarterly Report


Copper Hill – Molong Project

  • Metallurgical studies continued with incremental improvements
  • New review of increased mine and mill throughput rates underway
  • New drilling planned outside the Resource area on defined targets

Other Projects

  • Cargo – 280,000 ounces of gold in near-surface Inferred Resource
  • Four new core holes planned to further test Spur-Dalcoath at Cargo
  • Queensland Coal – coal present in Baykool North EPCA, Eromanga Basin
  • Surat and Galilee coal projects sold to fund other drilling programs
  • South Australia – Consultant geologist retained to progress drilling program
  • EM data processed on Burra and Rast project areas

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