Investments

PEEL EXPLORATION (6.2%) 

In the mid 1990's the Company undertook a small gold mining operation, referred to as May Day Mine, near Cobar NSW. By 1998 the resource had been mined out and the surrounding area put on a care and maintencance basis, due to other potential gold and copper deposits within the licence area. In 2009 the Company was approached by Peel Exploration Limited to acquire the mine site for the issue of 2.75 million fully paid ordinary shares.