Annual and Final report for EL 26229 North Bynoe for the period ended May 2009

Abstract

The permit was applied for as part of a Nothern Territory tin-tantalum exploration program. From June to Octiber 2008 Arnhem Resources Pty Ltd and a number of other associated private companies along with their shareholders were the defendants in Supreme Court of Western Australia litigation. The uncertainty associated with the group companies made it impossible to either commit or raise funds for exploration on the permit. Beyond the perusal of open file reports and publicly available geological data, no studies were commissioned, no field visits or operations were carried out and no original exploration concepts were generated. The permit was surrendered at the end of the first year. Expenditure was 5 days of geological time (studying the above data, reviewing field access plans and preparing for a planned field trip - $5000) plus approximately $200 in tenement administration expenses and overheads (not including rental costs).