Operations News

Latest developments

Gold

Further metallurgical testwork was completed in May 2008. This follows the encouraging results from gold production tests which were received on 22 January 2008 which could lead to reduced production costs and much more environmentally friendly production methods. The latest results indicate that an increase in gold recovery from 70% to 98% might be possible resulting in much higher income and profits than originally anticipated. The next phase of metallurgical evaluation should be completed by August 2008 and will be followed by plant selection and production.

The refurbishment of the camp facilities at Randwick has commenced in anticipation of having to accomodate the workforce there once gold production commences.

Agricultural Products

Following successful trials of the first container load of the company's new high value Limestone product inTasmania, upgrading of the pilot plant to full production has commenced and should be operational by September 2008.