The Company’s current activities involve resource exploration. The Company continues to hold an interest in the Princhester Magnesite Project and Bushranger Copper Project (Projects).

Princhester Magnesite Project, Queensland

The Princhester Magnesite Project is located 85km north west of Rockhampton, Queensland and comprises two granted Mining Leases (ML), ML5831 andML5832. The ML’s are close to the Bruce Highway and are within 2 kilometres of the main north coast railway line. Magnesite (MgCO3) is an ore for magnesium production and the source of a range of industrial minerals.

Together with the activities being undertaken on the Princhester Project, the Company is also reviewing a number of potential investment opportunities. Should LSA identify a suitable transaction with the potential to create value for the Company and its shareholders then it will present the opportunity for the approval of the Company’s shareholders as and when appropriate.