Warrego Tailings annual report 31 December 2007 to 31 December 2008

Abstract

MLC 81, 82, 103, 104, 105 and 106 are currently subject to a sale agreement (D92721) between Territory Resources Limited and AARD Metals Limited. This Agreement was registered on 28 November 2008. The sale between the two parties has been delayed and as a consequence, Territory resources Limited gave AARD Metals Limited an extension of time in which to meet the conditions precedent in the Agreement. As a result of the intended sale, no work was completed on the Warrego tenement areas during 2008. The transfer of the tenements to AARD Metals Limited is currently progressing and AARD Metals Limited has begun the Authorisation and Mine Management Process and are currently liaising with the relevant Division of RDPIF.