Batchelor Project EL 9501 Annual report for period 13 September 2000 to 12 September 2001

Abstract

This report covers work completed during the fifth year of tenure including extracting bulk sample from the trial pit and a small RAB drilling program. The two main aspects of this work were sinking a small pit to extract a 2000 tonne bulk sample and a minor RAB drilling programme. Some metallurgical tests were done. The Company has commissioned the preparation of an EIS but no report is yet available. The Company has also commenced the preparation of a Definitive Feasibility Study, the first stage of which has been completed. The full report is expected to be available in the first half of 2002.