First annual report for the period ending 8 July 2003, EL 22740 'Larrimah 1', EL 22741 ' Larrimah 2', EL 22742 'Larrimah 3', EL 22743 'Larrimah 4', EL 22340 ' Nutwood Downs' and EL 22343 'Kempsey Creek'

Abstract

During the current reporting period all available geological, geophysical, geomorphological data and from the previous drilling and sampling have been reviewed. Previous exploration was focused on gravel sampling and microdiamonds and indicator minerals have been identified in a number of drainage. The source of the indicator minerals remains enigmatic. The company failed to identify any high priority targets for immediate attention and intends to divest the project area.