EL 22349 Molyhil Year 9 Annual report 17 May 2010 to 16 May 2011

Abstract

World market prices for both tungsten and molybdenum have improved significantly since the GFC of 2008, particularly those for tungsten. A decision was made by the board of directors to revisit development of the Molyhil project and recommence exploration on the surrounding tenement area. Adverse weather conditions in the NT over the past 18 months appear to have eased. A recent helicopter survey of the area noted the area had dried out but the Plenty River crossing at the abandoned Jinka Homestead has been completely destroyed. A new crossing at a suitable location nearby will need to be constructed if dry weather patterns persist to allow vehicle access to the tenement area so exploration activities can recommence in Year 10.