Project Overview

The Company is involved in gold, copper and base metal exploration in Australia and Indonesia.

The main focus for the Company is the newly-acquired Obi Gold Project, located on the island of Obi, south of Halmahera in eastern Indonesia. This very exciting project contains a producing artisanal goldfield within a broad zone of epithermal gold-base metal mineralisation that, remarkably, remains unexplored.

The Company retains the impressive Mt Webb copper project in Western Australia where additional reverse circulation drilling in 2010 identified the best result to date, with hole PKC024 returning 246 m @ 0.22% Cu, including a run of 12 m @ 1.1% Cu from 168 m down hole.

In September 2010, the Company increased its exposure to gold through the acquisition of an option over the Yea gold project in Victoria, which contains a number of unexplored, high-grade historical gold fields.

In New South Wales, the Company is exploring for zinc and lead at the Spring Valley project, which potentially holds an analogue to the Woodlawn deposit.

In 2010, the Company entered into a 50:50 joint venture, the Capricorn Project JV, with Resource Mining Corporation Limited to explore for copper, gold and base metals in the Ashburton Basin region of Western Australia. This is a conceptual venture that is still at the desktop evaluation stage.

Indonesia - OBI GOLD PROJECT

Australia - Mt Webb Project, WA (copper-gold IOCG; Ashburton 100%)



Australia - Spring Valley, Project, NSW (Zn-Cu-Pb)



Tenement Schedule

Directors

Rick Wayne Crabb
B Juris (Hons) LLB MBA
Chairman
(Appointed 1.9.99)

Mr Crabb practiced as a solicitor from 1980 to 2004 specialising in mining, corporate and commercial law. He has advised on all legal aspects relating to resource development, including financing, marketing, construction contracts and government agreements. Mr Crabb now focuses on his company directorships and investments. He has been involved as a director and strategic shareholder in a number of successful public companies. He is currently a director of ASX listed companies Paladin Energy Limited, Golden Rim Resources Limited and Otto Energy Limited.

 
Tom Peter Dukovcic
BSc (Hons) MAIG
Managing Director
(Appointed 22.4.99)

Mr Dukovcic is a geologist with over 20 years experience in exploration and development. He has worked throughout Australia in a variety of geological environments as well as overseas in southeast Asia and Brazil. He has been directly involved with the targeting and management of gold discoveries in Australia and Brazil. Tom brings valuable exploration, geological and management skills to the Board.
 

Peter Bradford
BappSc (Extractive Metallurgy), FAusIMM, MSME
Director
(Appointed 3.6.08)

Mr Bradford is a qualified metallurgist with extensive experience in corporate and capital market activities, mine operations, and project and business development. He is a Fellow of the AusIMM, a Member of the Society for Mining, Metallurgy and Exploration and past president and lifetime member of the Ghana Chamber of Mines.

 
Company Secretary

Rodney John Dunn
Executive Director
(Appointed 17.04.08)

Rod has been actively involved in the mining industry for approximately 25 years and was a founding director of the successful Gasgoyne Gold Mines NL. He is also a director of a number of private companies.