Bridging report MCN 1645 and MCN 1646 for the period January 2009 to December 2011

Abstract

As has been previously reported these tenements are being maintained as the northern extension of the Francis Creek Gold mine reef system. In addition alluvial gold has been found to exist within the area. These resources will be utilized when the Francis Creek mine reopens. The efforts of the tenement holders, Woodleigh Nominees Pty. Limited to reopen the Francis Creek mine have been frustrated by the incessant delays in getting the final draft of the required agreement from the Northern Land Council which would allow Mineral Lease Application 24269 to be granted. This ML(A) was originally applied for as MLN(A)1141 in May 1994 and following the death of one of the applicants was reapplied for as ML(A)24269 in April 2004. Efforts to negotiate with the NLC commenced in early 2005 without success, the matter was referred to 'Mediation' before the Native Title Tribunal which resulted in the first meeting between the parties taking place. The matter is believed to be now resolved, however the final draft is yet to be received from the NLC to confirm this fact.