Annual report for the period 22 April 2010 to 21 April 2011 EL 23565 Zamia Creek

Abstract

RTX's activities during the tenure period were limited to farm-out negotiations and engagement with traditional owner representative body the NLC. No field activities were completed on EL 23565. Negotiations are currently at an advanced stage with the bona fide third party and farm-out is expected to be concluded by mid 2011. No technical progress was made on this licence during the annual reporting period. It is anticipated the introduction of an experienced zinc-focussed third party explorer to EL 23565 will expedite exploration on the tenement and adjoining EL applications in the Walker Trough held by RTX and its affiliate companies.