company profile

Strategy

During the late 2008 significant changes to the world’s financial markets have impacted adversely on commodity prices and markets. Base metals and bulk commodities in particular have seen a contraction of demand resulting in significant price declines for these commodities.

Fortuitously precious metals prices have remained strong, and in particular the gold price in Australian dollar terms has in fact increased by over 30% during the last six months. As the Company’s Norseman project has substantial defined gold resources of 1.47 million ounces the Company will focus the majority of its efforts here to maximise shareholder value creation.

A secondary consideration for the Company is the tightening of both credit and equity funding for riskier investments such as mineral exploration and development. Given this economic climate the Company is assessing opportunities to gain future funding of its activities through development of low capital cost, high-grade gold resources.