BEACONSFIELD GOLD (31 JANUARY 2001)

Activities Report for the Quarter ended 31 December 2000

BEMAX RESOURCES (31 JANUARY 2001)

HIGHLIGHTS - DECEMBER QUARTER

GOLDEN CROSS RESOURCES (31 JANUARY 2001)

QUARTERLY REPORT TO 31 DECEMBER 2000 - HIGHLIGHTS

SEDIMENTARY HOLDINGS (31 JANUARY 2001)

Activities Report for the Quarter ended 31 December 2000

LAKES OIL (31 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 2350 metres having completed Drill Stem Test No. 9, which unfortunately failed to produce hydrocarbons to surface. The well will now be suspended for potential re-entry if required.

Although no commercial hydrocarbons were discovered in either the Trifon or Gangell wells, the results represent a geological success. Gas has been successfully recovered to surface in both wells and the core cut during the drilling of Gangell has confirmed our "fan" model. We are disappointed that the gas, although apparently present in large quantities, was in a reservoir which lacked permeability.

We have already isolated two new prospects, developed by the previous tenement holder, Roma Petroleum. These two prospects, named "Hurson" and "O’Hara", appear to have an added section of reservoir, "the Golden Beach", sitting on top of the Strzelecki. We hope this section will solve our reservoir problems as we are now confident the Strzelecki, located immediately below it, is gas charged.

Lakes will now re-interpret the existing seismic over both of these prospects with a view to drilling them during the second half of the 2001 calendar year subject to rig availability and financing. With the interest shown by the industry in our drilling of the Trifon and Gangell wells, we believe it will be possible to farm-out the drilling of these proposed wells and thereby reduce the cost to Lakes.

MACNAMARA DEEP

Lakes will participate in the drilling of Macnamara Deep, scheduled for April 2001, with Lakes having a 13.3% working interest in the well as a result of the unitisation of the Prospect. This well is located in PEL 57 onshore Otway Basin, South Australia.


EAGLE PROSPECT - Onshore California, U.S.A

Lakes Oil is currently negotiating to obtain a 20 percent working interest in the Eagle prospect. This prospect is interpreted as a structural stratigraphic trap with the potential to contain up to 27 million barrels of oil, and up to 88bcf of gas, should they be present.

Two wells have previously been drilled on the prospect. The first was drilled close to the oil water contact and had oil shows but no commercial production. The second, in which Lakes participated, flowed both oil and gas, but was subsequently shut-in due to mechanical difficulties after producing 10,000 barrels of oil.

The operator Victoria Petroleum is currently deciding whether to drill a third well on the structure, located up-dip from the second well to a total depth of 4,253 metres, with a well cost estimated at US$1.3 million, or to re-enter the second well with a view to horizontal entry to the formation. This well is currently scheduled for March/April 2001, subject to confirmation.

EQUINOX RESOURCES (31 JANUARY 2001)

DECEMBER QUARTER - SUMMARY

ZAMBIA : Lumwana Project (Equinox – Phelps Dodge) :

• Pre-feasibility Study completed by Bateman.
• Geological Resource : 481Mt of 1.0% Copper with Cobalt, Uranium and Gold credits.
• Open Pit Mining Reserves/Resources : 330 Mt of 0.7% Copper - strip ratio of 3.2 : 1.
• Copper Production : 2.2 Mt of Copper metal over 24 year mine life.
• Financial Analysis :
  • NPV ranges from US$72 m to US$500 m.
  • IRR ranges from 14.0% to 41.0%.
• RMB Resources appointed "Financial Arranger" for the Bankable Feasibility Study and will participate by providing 25% of required funding.

ZAMBIA : Zambezi Joint Venture (Equinox – Anglo American) :

• Mwombezhi Dome : Significant drill intercepts at Nyungu Prospect include :
  • 17m of 0.9% Cu, 0.2% Co and 0.4g/t Au.
  • 13m of 1.8% Cu.
• Kitwe : Core drilling intersected 15m of copper sulphides and oxides – assays awaited.

SWEDEN : Norrbotten Project (Billiton – Equinox Alliance) :

• Substantial field program underway with geochemistry and geophysics completed in preparation for drilling in early 2001.

SOUTH AUSTRALIA : Ethiudna Project (Billiton - Equinox Alliance) :

• Alliance formed between Equinox and Billiton to explore for Iron Oxide Copper-Gold at Ethiudna :
• Equinox placement to Billiton for A$500,000 – funds to be used for Year 1 program.
• Billiton option to form joint venture and earn 50% in project by spending A$1.5m over 2 years.
• Billiton may then earn up to 70% by completing feasibility or spending further A$3.5m over 3 years.
  

AURIDIAM LIMITED (31 JANUARY 2001)

DECEMBER QUARTER - SUMMARY

• Further exciting results from the Ellendale region In NW Australia
• High grade Gold intersections at Woodlark Island
• Kimberlitic indicator minerals from Mmashoro in Botswana
• Exploration on areas of interest for the quarter $
• Further growth in technical and industrial operations

ARGOSY MINERALS (31 JANUARY 2001)

DECEMBER QUARTER - SUMMARY OF EXPENDITURES
Argosy Minerals Inc is pleased to report on exploration and development work completed on its projects during the quarter ending December 31, 2000. On the New Caledonian Nickel Project a resource study continued on the database of 196 holes previously drilled on the recently acquired Bogota Concessions. The feasibility study at Nakety also continued, with a focus on engineering, financial and modeling optimization. Discussions with potential joint venture partners for the project were advanced further. The declaration of force majeure was maintained on the Musongati Nickel Project. On the Kremnica Gold project, geological and assay data digitisation continued. A regional target assessment to identify hydrothermal systems beyond the existing Kremnica licenses is continuing.
In total, $278,734 was spent on exploration activities in the three-month quarter ending December 31, 2000

ALKANE EXPLORATION (31 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS
PEAK HILL

• Another quarter record gold production of 8,662 ounces
• Quarter cash costs of A$284 per ounce with revenue of A$433 per ounce
• Annual production of 30,615 ounces of gold with costs of A$349 per ounce and revenue of A$441 per ounce
• Mine generated cash operating surplus of A$2.84 million for 2000

DUBBO

• Phase 3, the Definitive Feasibility Study commenced with scheduled completion by the end of 2001
• Optimisation of sulphation/leach process in progress
• Tantalum/niobium and yttria/rare earth product recovery test work commenced
• On site and production alternative study indicates significant economic advantages

EXPLORATION

• Reconnaissance drilling completed at Peak Hill and Kadungle
• Jubilee report drilling to commence on McDonough Lookout nickel sulphide target, with other encouraging surface results from joint venture prospects

ARC ENERGY (31 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS
December quarter activity concentrated on preparing for the upcoming drilling programs on the Licences and on finalisation of documentation for the farmout of the Dongara exploration areas to Origin Energy.

BENDIGO MINING (31 JANUARY 2001)

Bendigo released a report on the status of its exploration program on the huge Bendigo goldfield.
The exploration results have increased the confidence in the size and grade of reefs in the New Bendigo and shown that the geological model holds across the extent of the field. "This improves our ability to target the position of new ribbons, reduces risk and cost, and boosts confidence in the successful development of a long-life low-cost gold mine", Managing Director Mr Douglas Buerger said.
Drilling has identified eight gold bearing reefs in the vicinity of the Swan decline. Significant intersections include 13.5 m @ 58.1 gAu/t, 13 m @ 11 gAu/t, 16.3 m @ 20.3 gAu/t and 9m @ 55.9 gAu/t.
This combined with the typical size of the reefs of 10 metres wide and 30 metres high is "very encouraging for the prospect of production".

LAKES OIL (30 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 2350 metres and running Drill Stem Test No. 9, over the interval 666 to 696 metres. The initial attempt to test this interval (Drill Stem Test No. 8) was unsuccessful due to tool failure.

This test is being conducted through casing perforations, and is designed to evaluate a gas show encountered at 681 metres, located immediately above the top of the Latrobe Group section.

MINASCO AUSTRALIA (30 JANUARY 2001)

Under instructions from Perseverance Exploration Pty Ltd due to change in processing plant requirements for their sulphide project development, Victoria.

FOR PRIVATE TREATY SALE :

• 270,000 TPA BACTERIAL OXIDATION PLANT
• 500,000 TPA FLOTATION PLANT
• 1050mm CONVEYOR SYSTEM

AVAILABLE AS PACKAGED PLANT UNITS

BARRA RESOURCES (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Barra Resources Limited officially listed on the Australian Stock Exchange on 12 December 2000 raising $5m through the issue of 20 million shares and 20 million attaching options at $0.25. The issue, underwritten by CIBC World Markets Securities Australia, closed early and oversubscribed.
• Reverse circulation drilling at the First Hit Prospect to 24 January 2001 has to date established a Measured Mineral Resource of 180,000 tonnes grading 23.6 grams per tonne gold for 136,576 ounces.
  The resource underpins the early transition of the Company from explorer to producer. Although significant additional work is required to establish reserves and to bring the deposit into production, a preliminary review based on mining costs and rates at similar orebodies using a gold price of $A470 per ounce, estimates a mine life of approximately 18 months with a minimum operating surplus of $30 million.
• The drilling at First Hit has clearly demonstrated the structural controls on mineralisation, which are identical to the controls at the Riverina Gold Mine. Between the First Hit Prospect and the Riverina Gold Mine, a distance of 8 kms, detailed aeromagnetics reveals four similar structural settings.
• Drilling will commence next quarter at the Riverina Gold Mine to follow up existing viable intersections with the objective of expanding known high grade resources.

BEACH PETROLEUM (30 JANUARY 2001)

Sable-1 exploration well in ATP 541P, Cooper/Eromanga Basin, Queensland, spudded at 20:30 hours on Thursday 25 January, 2001.
At 6:00 hours on 28 January the status of the well was:
DEPTH: 692 metres
OPERATION: Was drilling ahead at approximately 30 metre/hour
Sable-1 is located in ATP 541P on the northwest margin of the Cooper-Eromanga Basin in western Queensland, 27 kilometres south of Cashmere-1. The well, which has a planned total depth of 2,250 metres, is expected to take approximately 18 days to drill and evaluate.

BLACK RANGE MINERALS (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

SYERSTON NICKEL - COBALT - PLATINUM PROJECT

• Syerston project enhancement by relocation of the nickel cobalt refinery offshore
• Syerston capital cost now A$493 million, with infrastructure contract
• Platinum byproduct recovery confirmed with completion of pilot testing
• EIS submitted, government development consent awaited
• Difficulties with WA laterite operations impacts joint venture/financing discussions for Syerston
• Regional drilling identifies further resource potential

BLIGH OIL & MINERALS (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

PRODUCTION SUMMARY
Bligh derives oil and gas production from its 1.62% working interest in the TAWN Joint Venture, Taranaki Basin, New Zealand and from its Bayou Choctaw project in Louisianna, United States. Production net to Bligh from these projects is approximately 80 barrels of oil per day and 400 thousand cubic feet of gas per day.

CENTAMIN EGYPT (30 JANUARY 2001)

QUARTER HIGHLIGHTS

• Increase of Resource to around 1.44 million ounces of gold at 0.5g/t cut-off grade.
• Increase of Mineable Resource (Measured and Indicated) to 606,000 ounces of gold at 0.5g/t cut-off grade.
• Significant intersections from diamond drilling included:-
  4m @ 6.00g/t
  11m @ 2.35g/t
  131m @ 1.60g/t (includes 25m @ 3.49g/t,
  9m @ 6.00g/t, and
  4m @ 5.79g/t)
  34m @ 2.21g/t
  20m @ 2.81g/t (includes 8m @ 4.93g/t)

COAL & ALLIED INDUSTRIES (30 JANUARY 2001)

Coal & Allied has delivered a strong full year result with net profit after tax of $123.5 million to 31 December 2000. This compares with a profit of $67.6 million after tax for the same period last year. The profit for the 2000 year includes an abnormal gain of $33 million after tax relating to the settlement of a long term coal contract.
Coal shipments for the full year were 13.2 million tonnes, up 1.6 million tonnes compared with 1999. The increased volumes and a weaker Australian currency combined to offset the effect of continued weak US dollar coal prices during the course of the year. Sales revenue increased by $86 million to $614 million.
Production for the year was 13.0 million tonnes, up 1.1 million tonnes compared with the same period last year. The increased production reflects the acquisition of the Howick mine in the second half of 1999.

CONSOLIDATED MINERALS (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Mining continued at the Hanna and Chutney Deposits.
• Development drilling at Bell's Pit has been completed and an Indicated Resource of 928,000 tonnes established.
• At the Lewis deposit further drilling has been finalised and an Indicated Resource of 824,000 tonnes established. Mining approval has been obtained and mining is planned to commence early 2001.
• During 2000, exploration success added some additional 1.1 million resource tonnes to the Company's manganese inventory at Woodie Woodie.
• Further shipments have been made to Europe, China and Korea during the quarter.
• New sales agreements with customers in France, Italy and Taiwan.
• Contract of sales for 2000/2001 production together with long term agreements for sales to Europe and China.
• Shareholders approved the acquisition by Imperial Resources Limited of a major shareholding in the Company. This acquisition, when completed, will preserve the stability of the Company's share register and maintain the focus on the growth and development of the Company's manganese operations.
• CML's communications system and e-commerce capabilities are currently being reviewed. Implementation of the recommendations will result in a best practice, e-commerce enabled information system.

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CROESUS MINING (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

GREEN LIGHT FOR DAVYHURST

• Over 110,000 metres of drilling and 3,000 drill holes completed since June 2000
• Gold resources increased to over 540,000 ounces
• Initial production forecast of over 200,000 ounces
• Mining to commence in January 2001
• Surplus cash from operations of over $40 million estimated
• Earth moving contract has been awarded to Roche Mining
• 130 person accommodation and mess has been installed
• Road construction from the Giles deposit to the treatment plant is underway
• No disruption to the mine schedule was caused by large bushfire which passed within 200m of the camp during December.

CAPITAL RETURN
Following a recommendation by the Directors of Croesus for a capital return to shareholders of 5 cents per share, a general meeting of shareholders was held on 11 January. Shareholders overwhelmingly endorsed the proposed 5 cent capital return.
The capital return will be distributed to shareholders by 29th January 2001.
This return brings the total payments to shareholders made by Croesus to $13.8 million reflecting our ongoing commitment to providing returns to shareholders.
The Company's current strong cash position and the forecast income from Davyhurst and Binduli should provide adequate reserves to continue our development and acquisition objectives.

OTHER HIGHLIGHTS

• Gold production of 20,530 ounces at $350 per ounce
• Fort William Mining Lease granted
• Mining at Mayday North deposit commences
• Gold hedge book valued at $3 million
• Cash reserves of $18.5 million

DELTA GOLD (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

WALLABY JUMPS TO 7.1 MILLION OUNCES
Drilling beneath the previously reported Wallaby resource has delineated an additional resource of 2.1 million ounces, bringing the total gold resource at Wallaby to 7.1 million ounces and providing significant underground mine potential.

WALLABY KICKS-OFF
Development of the Wallaby project commenced immediately after approval in October 2000, with construction and procurement activities now well underway.

STRONG OPERATIONAL PERFORMANCE
Delta's mines delivered attributable gold production of 137,638 ounces at a total cash cost of $301 per ounce.

COST REDUCTIONS AT ALL SITES
The focus on reducing costs continued, with various initiatives leading to cost savings at all sites.

KANOWNA BELLE CONTINUES TO IMPRESS
Another excellent quarter from Kanowna Belle, with 75,718 ounces produced at a low total cash cost of $223 per ounce.

REVENUE OF $592 PER OUNCE
Delta's gold revenue increased to $592 per ounce, a premium of $87 per ounce to the average spot price for the quarter.

LOAN FACILITY INCREASED
An increased corporate loan facility is now in place, providing sufficient funding for all planned major expenditures including Wallaby.

KANOWNA EXPLORATION OPPORTUNITIES
Delta continued to consolidate its ground position near Kanowna Belle with the acquisition of a prospective tenement package.

OPERATIONS SUMMARY
Continued excellent performance by Kanowna Belle was the major contributor to Delta's attributable gold production of 137,638 ounces at a total cash cost of $301 per ounce for the December quarter.

Kanowna Belle produced 75,718 ounces at a total cash cost of $223 per ounce. Record mill throughput and continued positive mine-to mill reconciliations contributed to this strong performance.
Golden Feather produced 15,797 ounces at a total cash cost of $346 per ounce. Mining at Lady Ida and toll processing at the Greenfields plant continued during the quarter.
Granny Smith produced 82,747 ounces (Delta's share 33,099 ounces) at a total cash cost of $411 per ounce. Gold production was on budget and total cash costs were as foreshadowed in the September quarterly report.
Wirralie produced 13,024 ounces at a total cash cost of $430 per ounce, a cost reduction of 14% on the previous quarter.

EQUIGOLD (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Further highly significant exploration drilling results in Cote d'lvoire (Ivory Coast), West Africa including:
  - 20 metres at 43.26g/t from 43 metres;
  - 96 metres at 2.27g/t from 6 metres; and
  - 125 metres at 0.58g/t from 1 metre.
• Gold production at the Dalgaranga project was an all time record of 41,473 ounces (Equigold share 20,778 ounces) at a cash cost of $248 per ounce.
• Positive mining reconciliation to the reserve at the Western Queen mine of 11,007 ounces (37%).
• Construction of the long life Mt Rawdon gold mine in Queensland nearing completion with gold production due to commence early in the March 2001 quarter.

CORPORATE
GOLD FORWARD SALES
At the end of the December 2000 quarter the Company had a forward sale position of 110,563 ounces at a spot deferred price of $519 per ounce and 551,702 ounces scheduled for delivery over the 10 year Mt Rawdon mine life at a flat forward price of $530 per ounce.

CASH HOLDINGS
At the end of the quarter, the Company had cash and bullion holdings of $2.04 million and available credit of $12.3 million under a loan facility for the development of the Mt Rawdon project.

GALLERY GOLD (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• A third phase of RC percussion drilling (31 holes) has been completed on the Company's wholly owned Mupane prospect focussing mainly on previously identified gold zones in Area 1 and Area 2.
• Deeper holes on the high grade gold shoot in Area 1 have intersected significant gold intervals. Hole MUPC 87 intersected 58 metres @ 5.3 g/t gold including 16 metres @ 11.1 g/t and a further deeper intersection of 13 metres @ 7.4 g/t including 5 metres @ 12.6 g/t. Hole MUPC 94 located 100 metres along strike intersected 19 metres @ 7.0 g/t gold with an additional 5 metres @ 2.9 g/t.
• The Area 1 gold shoot has now been drilled to a vertical depth of 150 to 200 metres and remains open at depth. Recent completion of 50 x 50 metre spaced drilling on the shoot above this depth will now permit a preliminary resource estimate to be made and a specialist consultant has been engaged for this purpose.
• Drilling in Mupane Area 2 has defined a continuous zone of gold mineralisation grading 1 to 2 g/t gold that extends over a strike length of 250 to 300 metres. The zone is 20 to 38 metres wide and has been drilled to a vertical depth of 90 metres. Higher grade gold mineralisation averaging 2.5 g/t overwidths of 5 to 10 metres occurs within this zone.
• The only drill hole in Area 8 at Mupane for which results are available has returned an intersection of 2 metres @ 17.9 g/t gold.
• An initial 6-hole RC percussion drilling program on the Matopi Prospect has returned wide intervals of low grade gold mineralisation The best hole intersected 41 metres @ 0.9 g/t gold including 9 metres @ 2.7 g/t gold.

GME RESOURCES (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• NiWest significantly increases its prospective nickel laterite tenure.
• Favourable progress on water supply and metallurgical studies for the NiWest Nickel Project.
• GME and Aurora Gold Ltd enter Joint Venture on the Pyke Hill Project.

LAFAYETTE MINING (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

RAPU-RAPU POLYMETALLIC PROJECT, PHILIPPINES
LAFAYETTE 85%

• Bankable Feasibility Study completed. The bankable feasibility study confirms attractive financial returns from the Rapu Rapu open pit project.
• Underground Conceptual Study completed. An independently prepared conceptual study of deeper resources at Rapu Rapu confirms potential for these resources to mined by underground means.
• Marketability of mine product confirmed. Independent analysis of Rapu Rapu concentrates by several smelters and discussions with these parties confirms their willingness to purchase the mine product.
• Permitting process advancing. The permitting of the project made significant progress during the quarter with the successful holding of a public meeting on the island under the direction of the Environmental Management Bureau of the Philippines Department of the Environment and Natural Resources.
• Contract negotiations commenced. Negotiations have begun with two international engineering firms in regard to the placement of construction contracts.
• Exploration license granted. A further Mineral Production Sharing Agreement covering the Hixbar resource and several anomalies has been awarded thereby enabling exploration of this area to commence.
• Standard Bank facility drawn. A US$3m bridging finance facility provided by Standard Bank London Limited has been fully drawn down by the Company.

MAJESTIC RESOURCES (30 JANUARY 2001)

Majestic Resources NL has been boosted by an outstanding result from its first diamond sales in Antwerp.
The first parcel of diamonds from Majestic's Kimberley operations in South Africa attracted worldwide interest.
Majestic's Executive Chairman, Mr Robert Wilde, said the Kimberley diamonds had sold for an average of more than A$1,900 per carat. In total 753 carats were sold for a return of more than $1.6 million.
The diamonds, which are considered to be of the highest gem quality, were offered through a week-long tender process in Antwerp and attracted a large number of interested international parties, who were impressed by the quality of the offering.

MINCOR RESOURCES (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• In November 2000 Mincor announced that it had won the bid for WMC's Miitel Nickel Mine at Kambalda, in a joint venture with Clough Mining and Donegal Resources.
• The Company will commence production in March as the newest Western Australian nickel sulphide producer and the only junior producer offering a direct investment opportunity in the Kambalda Nickel District - Australia's premier nickel province.
• Drilling at Reko Diq in Pakistan continued throughout the month. Results released to date show better than expected copper grades and widths of mineralisation. Initial financing arrangements have been completed and the Project is now fully self-funding via Mincor's subsidiary, the Tethyan Copper Company Limited.

NOVUS PETROLEUM (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• operational performance of Novus' assets and continuing, strong oil prices.
• the West Natuna Gas Project was officially inaugurated at a ceremony held in Singapore on 15 January 2001. First gas is some six months ahead of the original schedule and the project has been completed under budget.

Novus reported record revenue of $200.2 million for the year ended 31 December, 2000 - the highest annual revenue for the company since its formation and public float in 1995.
The full year figure for 2000 was up 68% on the revenue of A$119.4 million in 1999, and was a consequence of increased production from Novus' Australian and international oil and gas interests as well as continuing strong world oil prices.
The result included the latest December quarter contribution of A$56.1 million in revenue as Novus continued to take advantage of its unhedged oil sales position, compared to $35.8 million for the previous corresponding period.
Novus averaged A$54.56 per barrel of oil for the most recent three month period compared to A$51.07 per barrel in the September 2000 quarter and $36.10 per barrel for the December 1999 quarter.
The revenue in the December 2000 quarter was the highest for any quarter since the Company's formation.

PAN PACIFIC PETROLEUM (30 JANUARY 2001)

Over the last week testing operations have been conducted at the Tusk-2 appraisal well in WA246P one kilometre north of Tusk-l.
A flow test over the interval 1193-1207m in the Basal Athol Sand was initiated but was aborted after only 100 minutes due to an apparent failure of the packer, causing the test string to part. While the well was open, a flow of 135 barrels per day was estimated at surface, and oil was recovered from the test string. However, due to the short period of the test and the fact that stabilised flow was not achieved, this flow rate can not be regarded as a definitive measure of Athol Formation productivity. Due to engineering problems caused by the packer failure no further testing or other operations are planned in the current well.
Following evaluation of core, log and test data acquired in Tusk-2, the WA246P Joint Venture will assess what further work is required to determine the economic viability of the Tusk Oil discovery.

RESOLUTE (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

PRODUCTION

• Total gold production of 85,654 (95,170) ounces of gold was achieved during the December quarter, at a cash cost of US$178 per ounce (US$168) or A$338 per ounce (A$290/oz).
• Attributable production for the quarter was 82,804 (91,790) ounces of gold at an average cash cost of US$177 per ounce (US$168/oz) or A$336 per ounce (A$289/oz).
• Golden Pride achieved production of 57,150 ounces of gold (61,372) at a cash cost of US$160 per ounce (US$151/oz).
• Production from Obotan of 28,504 (33,798) ounces of gold at a cash cost of US$215 per ounce (US$198/oz).

EXPLORATION

GOLDEN PRIDE

• Wide zones of mineralisation intersected by diamond drilling beneath existing pit including:
  - 34m at 4.84g/t
  - 30m at 3.39g/t
  - 21m at 11.62g/t
  - 9m at 9.95g/t and
  - 12m at 5.03g/t
• Pit design to be remodelled and re-optimised

CORPORATE

• Group cash and bullion at the end of the quarter was A$61m (A$54m).
• Gross cashflow from operations for the quarter of A$17m (A$20m).
• Group operating net profit before tax for the first 6 months expected to approximate A$21m.
• One quarter after refinancing, the Golden Pride facility was paid down to US$25.2m (US$29.6m).
• Sale of 50% interest in Gawler Joint Venture for cash, Dominion shares and a royalty.
• AGR announce successful drilling results at Boroo including:
  - 39.5m at 6.58g/t
  - 22m at 11.15g/t
  - and 15m at 6.86g/t
• No dividend was declared on the preference shares for the 6 months to 31 December.
• Richard Lockwood, Robert Pett and Peter Burnell returned as directors of Resolute Limited.
• Oscar Aamodt has resigned as Joint Company Secretary and Chief Operating Officer.
• The board of Resolute Limited comprises Peter Huston (Chairman), Peter Sullivan and Michael Carrick.
• The shareholders resolution in relation to restructuring the converting preference shares was withdrawn.

RIO TINTO (30 JANUARY 2001)

Preliminary Final Rpt for Palabora Mining Ltd

Group profit after tax for the year was R237 million, down 32% on the R349 million achieved in 1999. The decrease can largely be attributed to a decrease in product output, an increase in operating costs and an increase in taxation. In 1999 there was a saving in taxation as a result of the reduction in the corporate income tax rate from 35% to 30% which contributed R80 million to earnings for that year. Group operating expenditure increased by R185 million. South African operating expenditure rose by R98 million or 10.4% mainly due to an increase in maintenance and fuel costs, operational difficulties experienced in the smelter in the first half of the year, and damages resulting from the flooding that occurred in early 2000.

SOUTHERN CROSS EXPLORATION (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

EXPLORATION

GOLD

NAMIBIA - ONDUNDU PROJECT
Administrative matters were attended to and no exploration o development took place during the quarter. More enquiries were received from potential joint venture parties in respect of this project and these were being followed up.
Southern Cross has a 75% interest in the project through a Namibian subsidiary which is the holder of the Mineral Deposit Retention Licence (MDRL).

ROYAL STANDARD GROUP OF MINES - WOODS POINT, VICTORIA
The grants and renewal of those tenements which comprise the Royal Standard Group of Mines near Woods Point were refused some years ago. Actions for re-instatement of the licences were commenced, in order to protect the company's interests, and these are still pending.
Southern Cross held a 50% interest in the joint venture.

NICKEL

SCOTIA, WESTERN AUSTRALIA
Two prospecting licences in Western Australia were being converted into MLA 453. Apart from nickel, the area is believed to be prospective for gold. Due to the existence of several Native Title Claims, no exploration has taken place as yet.
There has been no progress in relation to the Native Title Claims.
Southern Cross has obtained an initial 40% interest and has rights to earn up to 80%.

OTHER MINERALS

EXPLORATION LICENCES NO'S 46 TO 55 - BIGRLYI, NORTHERN TERRITORY
The Joint venture project in the Ngalia Basin, Northern Territory has a proven uranium resource. The retention leases continue to be held on a care and maintenance basis, following their renewal in 1998 for a further 5 years.
Southern Cross has a 5% interest.

PROSPECTIVE EVALUATION

FELDSPAR PROJECT - SOUTH AUSTRALIA
The due diligence study and evaluation of a feldspar mining project was inconclusive and no decision has been taken whether or not to proceed with the acquisition of an interest in this project.
Prospective projects continued to be investigated in Australia and overseas.

EXPEDITURE
Exploration and associated administration costs for the quarter amounted to $87,000.

SUN RESOURCES (30 JANUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin North Island of New Zealand was at 160 metres (525 feet) at 0200 hours NZ time, 29 January 2001 and drilling ahead in 17(1/2) "hole after running 20" casing over the weekend.

TAP OIL (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Gipsy & North Gipsy Oil Development almost on-line
• HJV entered into Memorandum of Understanding for gas supply to Oswal
• Tusk-2 - successful oil appraisal
• Linda Discovery - Reserves estimates booked

TECTONIC RESOURCES (30 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

At RAV8 the company has:

• Delivered an Unaudited EBIT of $4.08M from effectively 4 months of operation.
• Exceeded Production Targets
• Delivered Concentrate Grade of 19.2% vs forecast of 16.9%.
• Produced Ni Metal of 1102t Actual vs 967t as estimated in the Feasibility Study.
• Identified a New Ore Zone with intercepts of 3m @ 6.09% Ni, 2m @ 6.4% Ni.
• Approved a Major Cutback to access additional bonus ore blocks and deeper ore
• Commissioned additional thickening facilities improving plant throughput.
• Processed 29% more ore for 14% more Nickel Metal.

At Trilogy

• Defined a strategic drilling programme ready to commence in January 2001.
• Assumed management of exploration in accordance with the Homestake negotiations and will ultimately aim to reassume 100% ownership in order to extend production life in the Ravensthorpe region.

BEMAX (28 JANUARY 2001)

LAKES OIL (28 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 2350 metres over the weekend. Gas shows continued at a diminished level.

It was decided to discontinue drilling and assess the well by means of wireline electric logs. The results obtained by logging confirmed several potential gas sands were present within the Strzelecki Formation section, and it was decided to test two of these.

Drill stem test No.6 was run over the interval 2124 to 2154 metres, and tested tight, with no recovery of hydrocarbons to surface. A previous attempt to test this interval had proved unsuccessful due to packer failure.

Drill stem test No. 7 was run over the interval 1548 to 1578 metres, and also tested tight, with no recovery of hydrocarbons to surface.

We now intend to conduct one final test prior to releasing the rig. A gas show at 681 metres was intersected whilst drilling, located immediately above the top of the Latrobe Group section. Drill stem test No.1was run at this time but failed. It is now intended to perforate the casing at this level in a final attempt to obtain a conclusive result.

ADELAIDE RESOURCES (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

TANAMI GOLD PROVINCE, NORTHERN TERRITORY

• In a significant development agreements were signed with the Central Land Council thereby clearing the way for granting of six Exploration Licences in the Tanami Province of the Northern Territory.
• The Tanami province has become one of Australia's major gold mining districts in recent years and continues to deliver high grade discoveries of gold mineralisation.
• The Exploration Licences are subject to the Mount Solitaire Joint Venture with Western Australian gold producer Troy Resources NL.
• The new tenements are located in the prospective Tanami Structural Corridor and are interpreted to contain the same geological sequences that host The Granites and Callie gold deposits.
• Three high priority targets have been identified and will be the subjects of an aggressive, RAB drill dominated, exploration program.

GAWLER CRATON, SOUTH AUSTRALIA

• Discussions have commenced with a number of iron ore producers as potential joint venturers for the Warramboo Iron Project.

CORPORATE

• The Company's corporate status changed from a public no liability company (NL) to a public company limited by shares (Limited) on 12 January 2001.

FINANCE

• The Company has liquidity of $2.3 million comprising cash and term deposits of $1.61 million and interest bearing investments of $0.69 million.

AUSTRALIAN WORLDWIDE EXPLORATION (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Successful gas appraisal well at Las Bases-2 (AWE 15%) ensures gas development proceeds in Argentina.
• Ladbroke Grove gas field (AWE 24.29%) sold gas at higher rates than anticipated. Gas demand is growing in the region and justifies aggressive exploration drilling.
• PEL 84 exploration area adjacent to Otway basin gas fields and infrastructure awarded to AWE on 100% basis.
• BassGas Project (AWE 30.5-36.0%) realigned to Victorian markets and ready for development once customers are secured.
• Company remains in strong position for future growth, with good cash reserves (A$23.1 m), low debt, long term cash flow and a diverse range of exploration and appraisal project opportunities.
• High impact drilling campaign starts in March, 2001.

BHP (26 JANUARY 2001)

BHP announced that it had completed drilling of its Chinook prospect, an ultra-deepwater exploratory well in the Gulf of Mexico's Walker Ridge Block 425.
The well represents the first test of BHP's Walker Ridge acreage and was located approximately 80 kilometers (50 miles) southwest of the western Atwater Foldbelt, where BHP has participated in three major discoveries at Mad Dog, Atlantis and Neptune.
The Chinook exploratory well was drilled to a total depth of 7,653 metres (25,109 feet), successfully reaching its target objectives. Hydrocarbons were found; however, not in commercial quantities, and the well has been plugged and abandoned.

CENTRAL WEST GOLD (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

The Company's exploration efforts during the quarter were concentrated on its tenements in the Mount Hope-Gilgunnia area in the central west of NSW.
Results from work to-date in EL 1466 at Mount Hope were reviewed in an effort to augment the Mount Solitary resource, with the result that further drill targets have been defined at all four main prospect areas within the Licence (including Palaeo channels draining from Mount Solitary).
No work was carried out during the quarter within the adjoining EL 5343, which contains the Main Road prospect.

RC drilling at Gilgunnia (EL 5440 will be carried out in mid-January, with two 90m reconnaissance holes to be drilled on the northern slopes of Mount McKellar to test gold geochemical anomalies.

The Company considers the Mount Hope-Nymagee-Cobar region offers considerable exploration potential and it will continue to be the focus of the Company's activities during 2001

At Bobadah, southeast of Nymagee, JV partner Tri Origin Australia report that the planned airborne EM survey has not yet been started

JV operator Thundelarra Exploration report that further drilling at the Rothsay gold project WA is planned for the coming months

Further drilling at the Company's Carcoar and Ottery prospects is planned for the coming quarter.

During the quarter EL 3714 near Mudgee was allowed to lapse as part of a program of prioritisation of the Company's tenements.

ELA 1642 (Orange) was lodged for diamonds in the Rockley area south of Bathurst, where basic/ultrabasic intrusives and extrusives are possible sources of the alluvial diamonds that are fairly common in the region. It is probable that the Application will be granted late in January.

CIM RESOURCES (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

Sales of Stratford produced coal were 559,000 tonnes, unchanged from the September quarter, but 28% higher than the previous corresponding quarter, reflecting the higher level of sales to the domestic power utilities.
Production, at 513,000 tonnes, was 26% higher than the previous corresponding quarter last year but 13% lower than the September quarter due to lower coking and steam yields, as the open cut operation traversed a lower quality working section in October and November.

Reprocessing of previously discarded material commenced during the quarter with additional production due to begin in early February 2001.

Both the international coking coal and thermal coal markets continue to strengthen, as a result of increased demand. As a result of this stronger market, producers are optimistic of price increases for the 2001 Japanese Fiscal Year.

Despite the increase in production and sales volumes, and the low Australian dollar versus the United States dollar, the financial results of the Company are likely to remain depressed for the ensuing year whilst it delivers its US$ proceeds into the previously established hedge contracts. Furthermore, the increased cost of fuel, resulting from high international oil prices, is having an adverse impact on costs of production and the consequent profitability of the mine.

RIGHTS ISSUE
The recent rights issue undertaken by the Company closed on 1 November 2000 and resulted in the conversion of $52.9 million of debt into equity and raised $0.1 million in cash. The Company was unable to place any further shares from the shortfall.

BANKING ARRANGEMENTS
Further to the announcement dated 6 December 2000 regarding the potential technical breach of the covenants under the terms of its financial facilities, the Company advises that the Financiers have agreed to waive these potential breaches until 23 March 2001.

FLETCHER CHALLENGE (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Total production for Fletcher Challenge Energy of 12.317 million barrels of oil equivalent (mmboe) for the three months to 31 December 2000, up 5 per cent over the corresponding period in the prior year.
• Gas production in Canada up 7 per cent over the corresponding period in the prior year.
• Oil production in Canada up 8 per cent over the corresponding period in the prior year.
• Maui oil production increased 49 per cent over the previous (June) quarter following production from the Maui BD oil development project.
• Pohokura reserves were revised upwards as a result of detailed analysis of data obtained from the Pohokura 1 and 2 wells. Reserves increased 30 per cent at the proved level to 169# bcf plus 7.6 mmb condensate, equivalent to 35.8# mmboe. At the proved and probable (2P) level a 32 per cent upward revision occurred, increasing estimated 2P reserves to 66* mmboe net to Fletcher Challenge Energy.

# All figures net to Fletcher Challenge 33.3 per cent interest

GOLDEN STATE RESOURCES (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

MENZIES PROJECT
A large exploration programme of drilling and geophysics was completed at Menzies during the Quarter.

SULPHIDE NICKEL EXPLORATION

• The electromagnetic (TEM) geophysical programme at Highway Extended Prospect in 2000 located four conductive anomalies potentially indicative of massive sulphide. Drilling to follow.

LATERITIC NICKEL

• Extensive site preparation completed on 10 km of strike of the Laterite Nickel prospects in readiness for drilling proposed during 2001.
• A number of gold targets immediately east of the nickel target area underwent extensive drilled programs, with success.

GREENSTONE RESOURCES (26 JANUARY 2001)

Greenstone has acquired the right to earn an 85% interest in a group of mining tenements located approximately 10 kilometres north of Bullfinch and the Copperhead Mine milling facilities in the Southern Cross district. The Company will earn the 85% interest by completing a Bankable Feasibility study within four years and will have the right to extend for a further two years.
The project consists of three main prospects, the Violet, Colreavy and Pioneer Prospects. All prospects have been only partly drilled to approximately 50 metres vertical depth and all contain mineralisation that is open in all directions.
The two deepest holes at Violet intersected 0.53 metres at 48.75 g/t gold and 0.48 metres at 90 g/t gold. Intersections at Colreavy include 4 metres at 12.50 g/t gold and 7 metres at 8.36 g/t gold.

LACHLAN RESOURCES (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

Lachlan is 81.2% owned by Homestake Mining Company. Homestake Gold of Australia Limited manage all Lachlan's exploration and development activities. This report describes Lachlan's activities during the quarter ended 31 December 2000.

FINANCIAL
As at December 31 2000, cash on hand and at deposit was $3.0 million. Exploration and evaluation expenditure for the quarter was $68,000. Proceeds of $3.0 million from the previously announced sale of Balcooma to Kagara Zinc was released from escrow to Lachlan's account on 4 January 2001 subsequent to the end of the period.

CORPORATE
On 22 December 2000, the Board of Directors of Lachlan announced that it resolved to propose a Selective Capital Reduction ("SCR") to retire the company's minority interests. Under the proposal, which is subject to shareholder approval, minority shareholders will receive A$0.07 per share, payable in cash, representing a 75% premium to market as of 21 December 2000. The SCR proposal has the support of Homestake Mining Company, a major precious metals producer, which directly and indirectly owns 81.2% of Lachlan. Todd Corporation, a New Zealand incorporated company, holds the largest block of the remaining minority shareholders of Lachlan with approximately 5.7% of the issued share capital.

The SCR proposal will be presented to shareholders at an Extraordinary General Meeting expected to be held during the first quarter of 2001. A Notice of the Meeting and an independent expert's report is expected to be sent to Lachlan shareholders within 6 weeks. Should the required shareholder approval be received, Lachlan will be delisted and become a wholly owned subsidiary of Homestake. The independent Directors of Lachlan, comprising those directors not associated with Homestake, recommend voting in favour of the SCR proposal if there be no superior alternative offer.

MARLBOROUGH RESOURCES (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

ARDLETHAN TIN PROJECT
There was major progress on the Ardlethan Tin Project including:-

• detailed design, construction and the awarding of contracts was commenced in November;
• the $5.65 million financing facility, provided by the Commonwealth Bank of Australia, was utilised for initial payments on the project;
• agreement was reached with Malaysian Smelting Corporation to purchase all of the tin concentrate production for the first two years;
• 70% of the estimated tin concentrate production in the first two years was covered by a floor price scheme so that the revenue from this should cover all operating costs plus 150% of principal and interest payments over the two year period. If the spot price is higher than the floor price then Marlborough is free to sell its concentrate at the spot market price;
• the tin price in Australian dollar terms continued at a high level during the quarter and reached a ten year high of A$10,349 per tonne; and
• the process flow sheet and equipment lists were finalised.
  The target is to commence tin production by the middle of year 2001.

CORPORATE
The Company had cash on hand of $927,000 at 31 December 2000.
The call on the partly paid shares was well accepted and proceeds from the call will be utilised for working capital.
Mr Chris Doon was appointed Operations Manager for the Ardlethan Tin Project.

MATRIX OIL (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• The Company has secured a finance package of US$24.5 million to fund the development of the Langsa Offshore TAC and the leasing of production facilities. The package includes a total of US$20 million from a number of financiers and the placement of 36,992,272 shares at 22 cents each, to raise A$8.138 million.
• A Memorandum of Understanding has been entered into with Modec Inc (a member of the Mitsui Group) and Itochu Corporation, to operate a US$47 million three-year lease contract for a Floating Production, Storage and Offloading (FPSO) facility and the provision of subsea flowlines for oil production on the Langsa fields.
• Estimates of proven and probable reserves on the Langsa TAC oil fields are 33.5 million barrels of oil. Production is planned to commence in the third quarter of 2001 at rates of up to 10,000 barrels of oil per day.
• During the quarter the Company entered into an agreement to obtain a 90% working interest in, and operatorship of, the Glagah-Kambuna Technical Assistance Contract (TAC), located in the offshore part of the North Sumatra Basin. The contract area is in the middle of the Asahan PSC in which the Company already has a 75% interest and is operator.
• This acquisition provides the Company with access to proven and probable reserves of 24 million barrels of oil and condensate and 60 billion cubic feet of gas in the Kambuna oil/gas/condensate discovery located within the Glagah-Kambuna TAC.

MENZIES GOLD (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

BAU PROJECT - SARAWAK, MALAYSIA
OVERVIEW:
During the quarter, exploration work was focused at Jugan where a previously unknown and higher-grade zone of gold mineralisation was exposed in trenches. The discovery was made whilst excavating bulk samples for metallurgical purposes, and is particularly important as the average grade of the zone is more than twice the average of the deposit. This may represent an important feeder to the Jugan mineralisation.

JUGAN
During the quarter, a previously unknown higher grade (>5 g/t Au) zone of mineralisation was exposed during trenching at the southwestern part of the Jugan resource. Ten trenches were excavated across the zone for mapping and geochemical sampling. 155 two-metre channel samples were collected from fresh rock at the base of the trenches. The results showed a continuous zone of higher-grade mineralisation 100m long and 20m wide at the surface. The zone is open to the west and has not been tested by previous drilling.

MOLOPO AUSTRALIA (26 JANUARY 2001)

A drilling contract has been awarded for the drilling of the Molopo-Tullymorgan 1 well in PEL 426, Clarence Moreton Basin, northern New South Wales. Drilling is expected to commence early March 200l.
The Molopo-Tullymorgan 1 corehole will target Coalbed Methane gas in the Walloon Coal Measures and conventional gas in the quartz sandstones of the underlying Koukandowie Formation.

MOUNT CONQUEROR MINERALS (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

The Company's exploration efforts during the quarter were concentrated on its tenements in the Mount Hope-Gilgunnia area in the central west of NSW.
Results from work to-date in EL 1466 at Mount Hope were reviewed in an effort to augment the Mount Solitary resource, with the result that further drill targets have been defined at all four main prospect areas within the Licence (including Palaeo channels draining from Mount Solitary).

OMEGA OIL (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Ladbroke Grove gas field (Omega share 24.29%) sold gas at higher rates than anticipated. Gas demand is growing in the region and justifies aggressive exploration drilling.
• High impact Balnaves-1 well due to commence drilling in March, 2001.

PANCONTINENTAL OIL & GAS (26 JANUARY 2001)

Pancontinental Oil & Gas NL is please to announce that the Waitaria 2 exploration well was spudded at 21.30hrs NZ time, Wednesday, 24 January 2001 and has reached a depth of 19.5m.
The hole will be drilled to a depth of 103.4m, (339ft), where 20 inch casing will be run and cemented.

PETSEC ENERGY (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

CORPORATE
The Plan of Reorganisation of Petsec Energy Ltd's wholly owned US subsidiary Petsec Energy Inc (PEI) was confirmed on 23 November 2000 and became effective on 16 January 2001. The reorganisation results in the settlement of all outstanding claims and discharge of all the liabilities of PEI, allowing PEI to continue in the oil and gas exploration and production business.
The Plan of Reorganisation provided for PEI to emerge as a reorganised entity. Petsec Energy Ltd continues to own and control the issued capital of PEI through its wholly owned US subsidiary Petsec (USA) Inc. Petsec retains five exploration leases in the shallow waters of the Gulf of Mexico, its technical data base, computer systems and its office in Lafayette, Louisiana.
The leases are High Island 33 (State) and High Island 33 (Federal), Ship Shoal 180, Vermilion 258 and West Cameron 145.

OPERATIONS
Planning has commenced on the 2001 programme.

FINANCIAL
The result for the year ended 31 December 2000 will be released in March 2001.
Current assets at 31 December 2000 were $24 million, of which US$11 million ($21 million) is held in term deposits.

Exploration expenditure for the quarter was $5.6 million, being principally acquisition costs of the five exploration leases.

PLATSEARCH (26 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Results from a First Stage Drilling Programme at the Southern Cross Project are very encouraging. Joint venturer Triako Resources has completed six RC percussion drill holes to test targets defined by detailed geological mapping. All holes intersected encouraging zinc and/or lead mineralisation. The best intersection was three metres averaging 8.92% zinc, 0.95% lead and 11g/t silver (including one metre at 17.03% zinc).
• Triako Resources completed a Third Stage Drilling Programme at the Hidden Treasure prospect, in the Centennial Project area. Seven inclined RC percussion holes were completed and all holes intersected significant zinc and/or lead mineralisation. The best intersection was two metres averaging 8.21% zinc.
• At the Lilleyvale Project in Queensland, a deep drill hole to test a large magnetic anomaly was completed partially to a depth of 590 metres when drilling problem and heavy ruins forced the abandonment of the drill site. The hole had just entered Lower Proterozoic basement rocks intersecting quartz-feldspar rock, pegmatite and banded quartz-magnetite-pyrite with geochemically anomalous cobalt. Similar rock types are known in the host sequences of the Eloise, Starra and Osborne copper-gold deposits that lie 100 to 300 kilometres north of Lilleyvale. Drilling will restart when weather conditions permit.
• The Option/Joint Venture agreements were signed with Inca Limited in September 2000. The first $650,000 tranch of funds from Inco has been received and held by PlatSearch to fund agreed initial stage work programmes under the agreements. These programmes, costing $1,000,000 in total, will include drill testing of deep targets on the Lilleyvale, Callabonna, Mirikata and Toby projects and a $300,000 programme of target generation work on the Redan, Hollis Tank, Yanco Glen, Lindsays Creek, Mundi Mundi, Mundi South and Bundera tenements at Broken Hill. Drilling has commenced at Lilleyvale and will be followed by Callabonna. in February and then Mirikata and Toby probably in April/May, following conclusion of native title

SUN RESOURCES (26 JANUARY 2001)

Waitaria #2 has commenced drilling in PEP 38335, East Coast Basin on the east coast of the North Island of New Zealand. Westech Energy new Zealand ("Westech") as operator of the permit reports the well at 0600 hours NZ time, 25 January 2001 is at 19.5 metres (64 feet) and drilling ahead in 26" hole to 103 metres (339 feet) to run 20" casing.

LAKES OIL (25 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 2152 metres and drilling ahead.

As previously reported Drill Stem Test No. 5 designed to test significant gas shows over the interval 2085 to 2149 metres, was unsuccessful due to mechanical problems. Evaluation of sands within this interval will now have to await the results of wireline logging.

AMADEUS PETROLEUM (25 JANUARY 2001)

HIGHLIGHTS FOR THE QUARTER FOR THE PERIOD ENDED 31 DECEMBER 2000

USA OPERATIONS - TEXAS
Gross revenue derived from oil and gas production of US$1,520,841 slightly higher than prior quarter record revenue of US$1,509,803.
The West Texas Intermediate posted oil price ranged from $US32.00 at the start of the quarter, to a high of $US36.12 and ended at US$26.80 on 29 December 2000. Hedging contracts with Wells Fargo Bank in two tiers (each based on 5,000 barrels per month) were in effect during the period. Total hedge costs for the quarter amounted to US$411,620.

DISPOSALS
There were no disposals during the quarter.

ACQUISITIONS
There were no additions during the quarter.

PRODUCTION AND SALES
Production for the quarter was derived from the Company's:

• 85.5% working interest in the Sunday Corporation leases located in Archer and Young Counties, Texas.
• 78.8% working interest in the Knox City unit.
• 85.5% working interest in the Clay County unit.
• 85.5% working interest in the Mobil-Arco Lease located in Gaines County, Texas.
• 76.25% working interest in the Wylie Lease located in Cottle County, Texas.
• 90.25% working interest in the LCS Production Leases.

OIL
The Company's producing leases located in Archer Young County, Knox City, Clay County Unit, Gaines, Cottle County together with the LCS Production leases continue to be operated by Wichita Falls based TNT Engineering Inc.

AUSTRALIAN MINING INVESTMENTS (25 JANUARY 2001)

Production and sales of coal for Gunnedah Coal Company Ltd, a wholly-owned subsidiary of Australian Mining Investments Ltd for the 6 months to 31st December 2000 were - NIL

AUSTRALIAN WORLDWIDE EXPLORATION (25 JANUARY 2001)

On January 5, 2001 Australian Worldwide Exploration Limited (AWE) announced it had made a conditional offer to Cue Energy Resources Limited (Cue) to purchase Cue's wholly owned subsidiary, Galveston Mining Corporation Pty Ltd (Galveston) for $5,000,000 Australian dollars. The offer was accepted by Cue and announced to the ASX by both Cue and AWE.
Galveston has a 14% interest in T/RL1, which contains the Yolla gas field, and also holds significant tax losses. AWE currently holds a 30.5% interest in T/RL1 and will increase its interest to 44.5% as a result of the transaction.
Earlier today Cue announced that from Cue's perspective the transaction would no longer proceed as "definitive terms and conditions were not able to be mutually agreed."
AWE firmly believes an agreement is in place and has sought legal advice on the Cue announcement.

DURBAN ROODEPOORT DEEP (25 JANUARY 2001)

DECEMBER QUARTER - OVERALL PERFORMANCE
In the second quarter of our financial year, Durban Roodepoort Deep, Limited has produced improvements in performance compared to the previous quarter and posted its best ever cash profit after capital expenditure of R 15.3 million (US$ 1.9 million). All operations generated cash operating profits.
Gold production at 8584 kilograms (275980 ounces) was 377 kilograms (12127 ounces), 4% less than the previous quarter, mainly as the result of public holidays. The Crown operations performed well and the results were in line with expectations.
Cash operating costs were maintained at previous levels and showed a slight decrease in unit cost terms to end at R 54629 per kilogram or US$ 224 per ounce despite the drop in gold production. The cash operating profit increased by 46% to R 39.5 million (US$ 5.2 million) for the quarter. Cash profits included proceeds of R 8.3 million (US$1.1 million) from the sale of equipment.

The Tolukuma mine in Papua New Guinea, increased gold output and it is anticipated that this level of production will be increased to 200 kilograms (6400 ounces) per month towards the middle of 2001, as new equipment is brought in. The current life of mine extends to June 2005.

OUTLOOK
The management restructuring exercise has now been completed, but this had led to high retrenchment costs of R 6.0 million (US$ 0.8 million). The benefits from this, together with improved controls over materials procurement will only be realised in future quarters.
Corporate costs were over budget due to increased auditing and legal support work necessary for 20F filing with Securities Exchange Commission and recovery of monies previously written off. External borrowings were reduced by R 46.6 million (US$ 6.1m) in the quarter and a further R 53.1 million (US$ 7.0 million) debt will be satisfied by the issue of new shares in January 2001.

Durban Roodepoort Deep, Limited should now remain cash positive in the future and this will lead to an improvement in the balance sheet. The new management team has settled in and I believe that shareholders can look to the future with renewed confidence.

LIHIR GOLD (25 JANUARY 2001)

HIGHLIGHTS OF THE QUARTER

PRODUCTION

• Gold production for the Quarter was a record l9l,288 ounces.
• Gold production in 2000 was 606,310 ounces.
• Ore milled during the Quarter (942,257 tonnes) was a record.

COSTS (UNAUDITED)

• Total Cash Costs for the Quarter were US$220/oz; Gross Cash Costs were US$187/oz. Total Cash Costs were relatively high due to the discovery of additional ore from West Minifie, affecting the Deferred Mining Cost allocation.
• Total Cash Costs for 2000 were US$ 236/oz; Gross Cash Costs US$240/oz

HEDGING

• An average gold price of US$379 was achieved partly due to gains made on previous hedging positions closed out and brought to account this period.
• Hedging was restructured following the recent refinancing of the senior debt facility.

RESERVES AND EXPLORATION

• 5,866 m were drilled in North and South Minifie and the Borefields. Assay results for the infill program generally were at or above expectations.
• Additional high grade and high sulphur ore continued to present itself in the West Minifie geothermal area of the Phase 3 pit.

MATRIX METALS (25 JANUARY 2001)

Summo Minerals Corporation "(Summo)" has advised Matrix Metals Limited "(Matrix)" that it has entered into agreements to acquire the Matrix shares held by Murchison United NL and Majestic Resources NL, subject to the approval of Matrix shareholders.
The directors of Matrix are pleased to announce that a Heads of Agreement has also been signed today with Summo under which Summo has committed to provide a bridging loan facility to Matrix to fast track its current operating plans and the directors of Matrix have indicated their support for Summo becoming a major shareholder of the company.

The funds provided to Matrix by Summo will be utilised to:

• optimise the operation of the existing Mt Cuthbert copper operation, including further evaluation of the production upgrade feasibility study;
• commence exploration drilling at the recently acquired and highly regarded Mt Watson prospect;
• secure ownership of the White Range project through the payment of the A$2 million deferred consideration to Majestic; and
• commence the final phase of the White Range Project Feasibility study.

NEW HAMPTON GOLDFIELDS (25 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Net profit after tax of A$2.7 million for the quarter, first half profit of A$8.16 million (audit reviewed).
• Cash at bank and bullion at 31 December 2000 was A$6.1 million.
• Gold production for the quarter was 56,830 ounces bringing the total for the year 2000 to 259,000 ounces.
• Underground mining activity recommenced in January 2001 at the mid- levels at Big Bell. Cuddingwarra open pits outperform with doubling of ore production.
• Mineral Resources increased by 10% to 4.4 million ounces at a discovery cost of A$8.50 per ounce with Ore Reserves at 1.24 million ounces.
• Exploration results at Jackpot, near Coolgardie include 10 metres at 44.4 g/t gold from 50 metres, 8 metres at 26.6 g/t gold from 110 metres and 10 metres at 17.6 g/t gold from 114 metres and at Big Bell of 49 metres at 3.1 g/t from 112 metres.
• Strategic acquisitions and joint ventures during the quarter have increased landholdings to 907 square kilometres at Big Bell and 2,078 square kilometres at Jubilee for a total of approximately 3,000 square kilometres.
• The Jubilee Big Pit cutback feasibility study has commenced after a pre-feasibility study outlined potential reserves.
• Kambalda West reviewed, Zuleika Shear targets identified.
• An internal review and appraisal of the Company's nickel interests in the Kambalda region has been completed and outlined high grade nickel sulphide potential.
• Gold hedging generated post 31 December 2000 profit of A$4.92 million.
• The Company recently acquired a further 1% interest in Croesus Mining NL lifting its holding to 21.5%.

On 19 December 2000, Harmony Gold Mining Company Limited announced its intention to make a takeover offer for the company.
The Board of New Hampton believes the proposed offer price of A$0.265 per share is inadequate and significantly undervalues the fundamental worth of the company.
In due course, Harmony will send a Bidder's Statement to all shareholders and optionholders setting out the terms of their offer.
The Board of New Hampton will then prepare a detailed response and provide recommendations for shareholders and optionholders.

OXIANA RESOURCES (25 JANUARY 2001)

Sepon is a copper-gold project in southeastern Laos owned 80% by Oxiana Resources and 20% by Rio Tinto and contains approximately 1mt copper and 3.5m oz gold.
Oxiana is undertaking a Bankable Feasibility Study (BFS). Preliminary studies indicate Sepon is capable of producing 150,000 oz/a gold and 500,000 oz/a silver in bullion and 40,000 t/a cathode copper.

DRILLING UPDATE
First phase infill drilling on the five adjacent gold resources (Nalou, Namkok West, Namkok East, Discovery and Discovery West) is nearing completion. 13,404 metres have been drilled to date ie 92% of plan. Further drilling will be required to close off mineralisation which remains open at Nalou, Namkok West and Discovery West.
Drilling at the Khanong copper resource will commence in February.
Results continue to confirm the resource base and continuity of the mineralisation.

RIO TINTO (25 JANUARY 2001)

PRODUCTION REPORT FOR THE QUARTER ENDING 31 DECEMBER 2000

• Iron are production for the full year was 40 per cent higher than in 1999. Half of the increase arose from record production at Hamersley for the year with the other half arising from the acquisition of North Limited, which also had record production at its Robe River operations during 2000. Both Hamersley and Robe River had record shipments during 2000.
• Aluminium production for the full year was 24 per cent higher than in 1999 helped by the purchase of the Comalco minorities during the year and continued improvements at the smelters.
• Mined copper production for the full year was 4 per cent higher than in 1999. However, it was 18 per cent higher in the fourth quarter of 2000 compared with the third quarter due to higher copper grades at Bingham Canyon, US and Grasberg, Indonesia.
• Mined gold production for the full year was down 9 per cent on 1999. However, it was 26 per cent higher in the fourth quarter of 2000 compared with the third quarter due mainly to significantly higher gold grades at Grasberg.
• Coal production for the full year was down 5 per cent on 1999 due mainly to a decision to reduce US production in the first half of the year following lower spot prices experienced in late 1999 and early 2000.
• Borates production for the full year was up 5 per rent on 1999, but down 7 per cent in the fourth quarter compared with the previous quarter when production had been high due to timing of maintenance work.
• Titanium dioxide feedstock production for the full year was down 4 per cent on 1999 but 8 per cent higher in the fourth quarter compared with the third quarter following the return to full production at QIT, Canada.
• The preliminary financial results for 2000 are scheduled to be released on 5 February 2001

ROC OIL COMPANY (25 JANUARY 2001)

SUMMARY - Independent Experts Reserve Reports for end 2000

• Original in-place Saltfleetby gas estimate up 38.7 BCF (60%) to 103.6 billion cubic feet (BCF)
• Proved plus probable (2P) initial Saltfleetby gas reserves up 22.2 BCF (43%) TO 73.5 BCF.
• Remaining (as opposed to initial) 2P recoverable gas reserves at Saltfleetby are 56.8 BCF, up 6.2 BCF (12%) on the corresponding figure at end-1999; despite over 16 BCF of gas being produced during 2000.
• Remaining proved North Sea Oil reserves up 2.6 million barrels of Oil (MMBO) (84%) TO 5.7 MMBO.
• Remaining 2P North Sea reserves up 6.6 MMBOE (39%) to 23.5 MMBO.
• Company-wide remaining 2P oil, gas and condensate reserves for end-2000 are unchanged at 33.6 MMBOE despite prolific production from Saltfleetby and sale of onshore UK oil reserves.

SANTOS (25 JANUARY 2001)

FOURTH QUARTER HIGHLIGHTS
The following results were achieved compared with the 1999 fourth quarter:

• Sales revenue increased by 37.5% to a record $393.9 million.
• Sales volume increased by 9.7% to 13.5 million boe.
• Production volume increased by 9.8% to 13.4 million boe.
• The realised oil price received averaged US$29.90 (A$50.30) per barrel [1999: US$24.06 (A$37.45) per barrel].

2000 FULL YEAR HIGHLIGHTS
Full year highlights compared with 1999 are as follows:

• Sales revenue increased by 58.5% to $1,497.1 million.
• Sales volume increased by 15.0% to 55.7 million boe.
• Production volume increased by 13.8% to 56.0 million boe.

COMMENT BY MR JOHN ELLICE-FLINT, MANAGING DIRECTOR
"The fourth quarter result continues the successful year for Santos.
The record level of sales revenue during the quarter reflects both the high realised oil price (A$50.30 per barrel) and increased production (production growth contributed one-quarter of the growth in revenue).

Gas sales were up on the 1999 fourth quarter, notwithstanding the commencement of deliveries from Victoria to New South Wales through the Eastern Gas Pipeline.

Oil production for the quarter was up 47.6% compared with the 1999 fourth quarter, although down on the previous quarter due to work being carried out on Stag and the Roller field pipeline.

In exploration, there were a number of successful wells, with the highlight being the Runnells #3 discovery in the United States.

A focus on sustained higher production coupled with high realised oil prices in the fourth quarter completes a record year for Santos revenue and production."

STRAITS RESOURCES (25 JANUARY 2001)

DECEMBER QUARTER - SUMMARY

• Revenue of $33.5 million for the quarter, up 36% on the previous quarter. Annual Revenue of $109.6 million up 14% on previous year.
• Group copper cathode production of 7,323 tonnes for the quarter at cash cost of US$0.38/lb. Total production for 2000 was 30,257 tonnes, an increase of 4% year on year.
• Nifty copper production of 5,226 tonnes for the quarter, an increase of 8% on the September quarter. Total production for the year was 17,318 tonnes, an improvement of 13% on the previous year.
• Nifty cash cost of production was US$0.43/lb.
• Good performance at Sebuku with coal production of 437,000 tonnes, up 26% on the September quarter.
• Option agreement over Las Cruces Copper Project terminated in consideration for payment to company of $3.2 million.
• Strong potential emerging at Nifty to extend leachable mineral horizon below planned pit limits.

STRIKER RESOURCES (25 JANUARY 2001)

The company announced the discovery of diamond bearing kimberlite recovered from the Banksia anomaly.
Initial processing of the reverse circulation (RC) drill spoils from drill holes UBRB002 and UBRB004 intersected a total of 7 metres of material containing kimberlite indicator-minerals including a 0.8 x 0.8 x 0.7mm macro diamond weighing 0.006cts.
During the 2000 field season, 7 RC holes inclined at 60(deg) were drilled into the Banksia anomaly at depths ranging from 42 to 50 metres.
The holes are approximately 80 metres apart and are located 2km to the south of the Ashmore diamond bearing kimberlite pipe cluster, currently under evaluation.
The intersection of kimberlite at Banksia confirms that kimberlite volcanicity has been active over a greater area than previously known, and further underpins the prospectivity of the area.

WESTERN AREAS (25 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Exploration for platinum group metals at Plumridge commenced in December. The location of high grade chromite occurrences (with associated anomalous platinum) and RAB holes with elevated platinum and palladium values reported by previous exploration companies, were confirmed within WSA tenements.
• A small drilling program was completed on granted tenements at Plumridge, north of Salt Creek. Drilling will continue as a priority once adjacent tenements are granted and environmental approvals received. WSA now holds applications and granted tenements covering most of the Plumridge intrusive complex.
• Significant nickel assays were intersected in shallow drilling at Fish Hook and Eenuin South prospects, south of the Trough Well nickel sulphide deposit at Bullfinch North. Nickel is associated with elevated platinum and palladium assays indicating a possible nickel sulphide source at depth. EM surveys start in February.
• An EM survey at Mt Alexander has identified several conductors associated with prospective ultramafic units, along strike from known nickel sulphide mineralisation. Diamond and RC drilling is scheduled to commence at the end of January to test priority targets in a channel at the base of the ultramafic sequence.

WESTERN METALS (25 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Western Metals has returned to profitability in the first half of the current financial year.
• The company has posted its third consecutive record quarterly production result.
• Lennard Shelf Operations produced 82,209 tonnes of zinc concentrate grading 60.2% Zn and 25,801 tonnes of lead concentrate grading 76.5% Pb. This is the strongest quarterly production result in the six-year history of the Lennard Shelf, and surpasses the record set in the previous quarter.
• Mt Gordon copper cathode production for the December quarter was 11,637 tonnes. The result is the best quarterly production total to date, exceeding the previous quarter by 6.8%.
• The Pillara Mill expansion was completed in November 2000, on budget and on time. By the end of the December Quarter, the Pillara mill was operating in excess of design capacity of 2.4 million tonnes per annum.
• Mr Rod Webster left the company in November 2000 after six years service as Managing Director. The search for a new Managing Director is well advanced.
• In the interim, the Chairman Mr Alan Castleman continues to have close involvement with management and stakeholders on financial matters, and Deputy Chairman Dr Ian Gould is taking day-to-day executive responsibility.

ZIMBABWE PLATINUM MINES (25 JANUARY 2001)

DECEMBER QUARTER - PROJECT PROGRESS
In addition to the progress reported under the acquisition of BHP's platinum assets, progress on the Ngezi/SMC Project includes the following:

CORPORATE FINANCING
In order to fulfill the undertaking in terms of the Framework Agreement, to make the equivalent of 15% of the existing share capital available to local empowerment investors, and to provide Zimplats with funding for corporate overheads during the development of phase one of the Ngezi/SMC Project, negotiations with a Zimbabwean corporate bank for a private placement have commenced.
The corporate bank is expected to hold these shares until local empowerment investors are in a position to acquire the shares from the bank, either directly or through unit trusts or other such facilities put in place in order that Zimbabwe nationals are able to purchase an interest in the activities of Zimplats.

PROJECT FUNDING
Several strong expressions of interest in financing the Ngezi/SMC Project have been received from a variety of institutions. These include mining companies, development agencies, emerging market funds and corporate/merchant banks.
A number of these institutions have completed their due diligence exercises and further due diligence is planned to be completed shortly. As a result of the due diligence exercises completed, some indicative proposals have been received by Zimplats.
Additional proposals will be received shortly and Zimplats will be reviewing these proposals with a view to making a final decision to permit Project financing to be in place for the 1st April 2001 start date.

LAKES OIL (24 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") advises that Drill Stem Test No. 5, conducted over the interval 1885 to 2149 metres has again proved unsuccessful due to mechanical problems (packer seat failure). It is now intended to recover the test string, and drill ahead. Evaluation of sands within this interval will now have to await the results of wireline logging.

LAKES OIL (24 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 2149 metres having advanced 32 metres since yesterday. A further sand containing a significant gas show has been encountered and we are now preparing for Drill Stem Test No. 5 over the interval 2085 to 2149 metres, which will test the sand encountered overnight together with the sand which we attempted to test yesterday. That test was unsuccessful due to mechanical problems.

Today’s test will evaluate sands within the Strzelecki Formation which have shown to contain varying amounts of gas within this well.

BLIGH OIL & MINERALS (24 JANUARY 2001)

The Rimu-A2 has been drilled to an along hole depth of 3929 metres.
The current operation is running 7" casing.
The Rimu-A2 has confirmed the presence of the upper Tariki Sandstone 800 metres north of the Rimu Al. Hydrocarbon shows were encountered in the upper Tariki Sandstones in the Rimu A2, the significance of which will be determined once wireline logs have been evaluated. The Rimu-1 tested at rates up to 1,525 barrels of oil per day and 4.8 million cubic feet of natural gas per day from the upper Tariki sandstone.
The well will be deepened to evaluate the Rimu Limestone, from which oil and gas was tested in the Rimu B2, and the lower Tariki Sandstone, prior to any testing of the upper Tariki Sandstone interval.

FIMISTON RESOURCES & TECHNOLOGY (24 JANUARY 2001)

JULIA CREEK OIL AND VANADIUM PROJECT. 50% OIL SHALE / 100% VANADIUM.
The Julia Creek project contains very large resources of vanadium and oil that occurs within the fresh rock of the Toolebuc Formation.
During the quarter a drilling program was completed at Julia Creek to confirm the grade of the oil in a number of different locations and to obtain fresh oil shale samples for metallurgical test work.
A total or six RAB drill holes were drilled and ranged in depth from 27 to 39 metres. They were specifically designed to obtain representative samples of the near surface oil shale. Drilling conditions were excellent with clean dry samples obtained. Fresh oil shale samples were obtained from five of the six holes with samples submitted to ACIRL laboratory in Gladstone for Modified Fisher Assay.

FINANCIALS
At the end of the quarter the Company had approximately $1.7M in cash, liquid securities and receivables.

MINERALS CORPORATION (24 JANUARY 2001)

Minerals Corporation announced the following significant events relating to the Skardon River Kaolin Project in which MSC has a substantial interest.
The Skardon River Kaolin Project is a world class Kaolin resource development at Cape York, Northern Queensland, which will commence production during the first half of 2001. Kaolin is an industrial mineral presently enjoying increasing prices and volume demand from the paper, plastics and paint industries with Asia being the world's fastest growth region.

AGREEMENT REACHED WITH TRADITIONAL OWNERS
Queensland Kaolin Limited ("QKL"), a related entity of MSC and owner of the Skardon River Kaolin Project, has signed an Agreement with the Traditional Owners (the Warangku and Tjungundji people) which will significantly facilitate the successful development of the project.
Under the Agreement the Traditional Owners are provided with a 5% equity interest in QKL together with Life of Mine royalties and employment advancement provisions. They are also entitled to participate in future share placements in either MSC or QKL for up to $2 million at a 20% discount to market price.

APPOINTMENT OF LEADING ENGINEERING FIRM
Kvaerner E & C, have been appointed to manage the commissioning phase of the Skardon River Kaolin Project.
Major plant units are being individually re-commissioned in the period December 2000 - February 2001 to be followed by a full process commissioning in the next quarter.
Kvaerner are a leading global engineering and contracting firm with expertise in numerous minerals and metals industries including pulp, paper and pigments.
MSC TO INCREASE ITS EQUITY IN QKL
As foreshadowed in the Chairman's Annual General Meeting address (November 2000), MSC's wish to increase its equity interest in QKL is now achievable subject to MSC's shareholders approval.
To date MSC has received sufficient acceptable offers from QKL's shareholders to raise MSC's interest in QKL to in excess of 51% (June 30th holding was 45% which was diluted during the last 6 months mainly as a result of QKL's capital raising activities).

NORWEST ENERGY (24 JANUARY 2001)

Puffin-6 is expected to commence drilling on about the 31st January 2001. This date may vary according to the operations associated with the well proceeding Puffin 6.

OROGEN MINERALS (24 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Oil and gold sales revenues of US$53.7 million were earned in the fourth quarter. This brought the total oil and gold sales revenue for the year to US$230.0 million, 77% higher than in 1999 and an all time record for Orogen Minerals Limited (Orogen).
• Continued buoyant world oil prices helped offset the impact of the natural production decline of the PNG oil fields: Orogen's share of fourth quarter oil production from the Kutubu, Gobe and Central Moran Fields was 1.37 million barrels, 9% lower than in the third quarter. However, with a realised oil price of US$28.37/bbl, oil revenues remained strong. Production for the year was 6.22 million barrels, 6% higher than in 1999, reflecting increased field interests following the purchase of BHP's PNG assets in late 1999.
• Gold production from the Porgera Gold Mine remained at high levels: Orogen's share of fourth quarter gold production was 48,783 ounces, making 182,087 ounces for the year, 31% higher than in 1999. Cash costs were US$144 per ounce, placing the mine towards the bottom end of the global cost curve.
• Discussions resumed with potential customers of PNG Gas: With ACCC interim authorisations for new project entrants, ExxonMobil and Santos, for joint marketing of PNG gas, marketing discussions with potential customers re-commenced during the quarter. The initialing of Gas Sales Term Sheets by customers remains the most critical milestone to be achieved before the start of Front End Engineering and Design (FEED) for the Project.
• The Moran landowners' forum has been successfully completed paving the way for full field development of the Central Moran Oil Field: Shortly after the end of the quarter, the landowners from the Central Moran area signed a Memorandum of Agreement (MOA) which outlines the terms for sharing benefits from the Central Moran Oil Field Development. A new Petroleum Development Licence over PPL-138, PDL-5, and the Variation to PDL-2 are expected to be issued shortly, after which the Central Moran Unit will come into effect and full field development will commence.
• The Porgera Carry Liability was eliminated: Late in the fourth quarter, Orogen agreed to terms to extinguish the Carry Liability associated with its 15% economic interest in the Porgera Joint Venture. As a result, Orogen now has a 20% direct participating interest in the Porgera Gold Mine.
• Corporate debt facility rolled-over: Late in the quarter, Orogen rolled-over its corporate debt facility for a further 12 month period. The facility size has been reduced from US$125 million to US$84 million, to more accurately reflect the company's likely short term financing requirements. All other terms remain largely unchanged.

PANCONTINENTAL OIL & GAS (24 JANUARY 2001)

Pancontinental Oil & Gas NL received confirmation from the operator, Westech Energy New Zealand, that the Waitaria 2 exploration well will spud on Wednesday, 24 January 2001.

RIO TINTO (24 JANUARY 2001)

Rio Tinto has approved the implementation of Northparkes Mines' (Rio Tinto 80%) Lift 2 Project at its E26 underground copper-gold mine, near Parkes, New South Wales.
The E26 Lift 2 has an ore reserve of 25 million tonnes grading 1.2 per cent copper and 0.48 grams/tonne gold and is planned to be developed over 2001 to 2003. With Lift 1 production forecasted to be depleted by 2004, approval for the development of the lower orebody was required in order to achieve a smooth production transition and to maintain Northparkes' production through until 2010.
The total cost of the development and construction program is estimated at A$139 million.
Following approval from Rio Tinto and Northparkes' Joint Venture partners, Sumitomo Metal Mining and Sumitomo Corporation, it is expected that construction works for the Lift 2 project will commence in early February 2001.

SYDNEY GAS COMPANY (24 JANUARY 2001)

Sydney Gas Company NL is pleased to advise the following progress in the coal bed methane project which is underway at Camden, south west of Sydney.

WELLS FRACTURING
Since the beginning of January, three of the wells, which were drilled prior to last Christmas, have been fracture stimulated. The Bulli coal seam was fracced in Logan Brae # 5 and the Tongarra coal seam was fracced in Logan Brae # 6. The Logan Brae # 7 well was subjected to multi seam fracture procedures with both the Tongarra and Bulli coal seams fracced. Production from multi seams will be trialled on this well.
Logan Brae # 5, #6 and 7 are now flowing back fracturing water awaiting further completions to assist with the dewatering process. Methane gas is evident on all 3 wells.
It is planned to fracture the Tongarra and Bulli coal seams in Logan Brae # 10 and the Bulli coal seam in Logan Brae # 9 by this Friday thereby completing the current 5 wells fracturing campaign. These wells will be connected to the gathering lines once completed.

PIPELINE CONSTRUCTION
Construction of the low pressure 200mm diameter polyethylene pipeline started earlier this month and approximately 50% of the 5.4 km pipeline has been laid underground and is expected to be completed and pressure tested by mid February.
Construction of the 200mm diameter 4.8km high pressure steel pipe, commenced last week with approximately 1 km of the line connected and awaiting to be laid underground. This part of the pipeline is targeted for completion by the end of February.

TREATMENT FACILITY
The construction of the gas treatment facility has also commenced and commissioning of the facility is planned for the end of February.

GAS DELIVERY
Based on the planned completion dates for the pipelines and the treatment facility, the Directors expect the project to commence gas delivery in March 2001.

SONS OF GWALIA (24 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Gold production of 105,098 fine ounces for the quarter.
• Record tantalum production of 359,570 lbs for the quarter from the Greenbushes and Wodgina Mines.
• Sales contracts entered into and re-negotiated for tantalum which will bring forward and increase tantalum production increasing future revenues and group earnings.
• Agreement to acquire up to a 19.9 per cent interest in BeMax Resources NL, the holder of significant mineral sands resources in the Murray Basin region.
• Encouraging gold exploration results from the Hercules Prospect in Southern Cross.
• Completion of a ten year US$120 million Senior Notes issue.
• Construction contracts awarded for the expansion of tantalum processing plants at the Wodgina and Greenbushes Mines.

TASMANIA MINES (24 JANUARY 2001)

During the December quarter production of Dense Medium Magnetite for use in Coal Washeries continued.

MINING
Mining from Kara No 1 continued during the period with 26,304 tonnes of ore being mined from the Kara No 1 pit and delivered to the concentrator plant stockpiles.

MILLING OPERATION
During the period the concentrator plant treated 35,694 tonnes. A total production of 10,980 tonnes of magnetite iron ore fines was achieved.

HERALD RESOURCES (23 JANUARY 2001)

ICON ENERGY (23 JANUARY 2001)

QUARTERLY REPORT FOR THE PERIOD ENDING 31 DECEMBER 2000

USA
The final drilling permit issued by the US Army Coprs of Engineers was delayed and is expected to be issued in January 2001, and consequently the commencement of the first well Victory Financial #1 in the Victory Financial Lease in West Baton Rouge Louisiana was also delayed.

Negotiations are proceeding with several potential joint venture partners which if successful will allow an expanded drilling programme in the Louisiana area.

AUSTRALIA
ATP620P
The operator, Queensland Gas Company Ltd as farminee for the Coal Bed Methane drilling programme commenced in November 2000 and the first well Argyle#1 flowed gas at a rate exceeding 1 million cubic feet of gas per day.

This flow rate is of commercial significance and the operator is planning a multiple well evaluation programme to develop the discovery for commencement of gas production as soon as possible. Details of the programme will be released as soon as the planning details are completed.

Icon holds a 12.5% interest in this permit.

FINANCIAL
During the quarter Icon raised $4,100,000 by new issues of shares and options of which a significant amount will be applied to the drilling programme in Lousiana.

LAKES OIL (23 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 2117 metres and preparing to drill ahead. Drill Stem Test No. 4 over the interval 2100 to 2117 metres was unsuccessful due to packer seat failure. This interval will now be evaluated after logging, together with any further gas shows encountered between current depth and the new proposed total depth of 2500 metres.

PAN AUSTRALIAN RESOURCES (23 JANUARY 2001)

OVERVIEW - DECEMBER QUARTER

ANGLO PACIFIC GROUP (23 JANUARY 2001)

DECEMBER QUARTER : MAIN OPERATIONS

1. GORDON RESOURCES - COALMINE ROYALTY ENTITLEMENTS - QUEENSLAND
(a) KESTREL (RIO TINTO)
The royalty received for the quarter to 30th September 2000 was A$453,583 compared to A$374,709 for the previous quarter.
Since the company's financial year end we have been advised by RTZ of a further royalty receivable from them of approx A$1.9million being an adjustment for the 12 month period to 30th September 2000. As a result, the company will then be in a position to eliminate all of its current borrowings.

(b) CRINUM (BROKEN HILL PROPRIETARY)
The royalty received from the Crinum coalmine, for the quarter to 30th September 2000 was A$1,226,989 compared to A$798,301 for the previous quarter.

2. MINERALS - SCOTLAND
Operations continue at the Group's Marble and Talc businesses with minimal capital expenditure.

BEACH PETROLEUM (23 JANUARY 2001)

Victoria's petroleum sector will be boosted next week with the participation by Beach Petroleum NL in new gas exploration east of Warnambool.
Beach - which located some of the early major offshore gas supplies around Port Campbell - is initially participating in two wildcat gas wells targeting onshore prospects in the Cretaceous-aged Waare Sandstone formation in the PEP 154 area.
The first well, McIntees-1, 40 kilometres southeast of Warnambool - will begin drilling on February 1 and is expected to reach its target depth of 1600 metres within 10 days.

DIORO EXPLORATION (23 JANUARY 2001)

Dioro exploration NL ("Dioro") is pleased to provide an interim progress report on ongoing activities at the Mungari East project near Kalgoorlie in Western Australia. Dioro has a 49% interest in the project with Mines & Resources Australia Pty Ltd 51% and operator.

HIGHLIGHTS

• Diamond core drilling results from Frog's Leg include 33m @ 8.48g/t Au from 294m (including 6m @ 21.10g/t Au), 2m @ 20.12g/t Au from 109m, and 9m @ 8.22g/t Au from 275m depth (including 1m @ 64.76g/t Au).
• Trial soil sampling has identified a 300 metre long gold-anomalous zone west of Frog's Leg. The source of this anomalism is not yet confirmed, but it lies in a area incompletely tested by reconnaissance aircore traverses drilled to test for extensions to the Raleigh mineralised trend.
• RC and diamond core drilling at Frog's Leg has recommenced and 3 drilling rigs are currently on site.
• A program of auger soil sampling on 200m by 25m spacing has commenced over the northern portion of Mining Lease 15/688.

EXCO RESOURCES (23 JANUARY 2001)

Exco and BHP have reached in-principle agreement whereby BHP will transfer the Soldiers Cap project to Exco in exchange for BHP being granted the rights to explore specific parts of the project under a separate farm-in agreement. The terms of the new agreement will see BHP funding an exploration program to be undertaken by Exco over selected targets involving a minimum expenditure of $200,000. Following this first stage of exploration, Exco will be free to deal with the remainder of the Soldiers Cap project as it chooses. Should BHP apply for mineral development licences, Exco will receive a royalty equivalent to 2.75% of the cash flow from any future production including an up-front payment of 30% of the net present value of the royalty.

GLENGARRY RESOURCES (23 JANUARY 2001)

A tenement application has been accepted by the Queensland Department of Mines and Energy for tantalite, rare earth and base metal exploration in northwest Queensland.
The Exploration Permit for Minerals (EPM 13275) application, known as Sybella, is located 10 km south west of the Mt Isa base metal mine and covers about 320 sq km.

MOSAIC OIL (23 JANUARY 2001)

The Downlands East well has reached TD at 1890 meters. Electric logs have been run and indicate a gas bearing interval of 8.5 meters in the Tinowon sandstone interval between 1842.5 and 1851 meters. There were strong gas shows indicating (C1), and some C2, (C3) and (C4). Casing is being run and Century Rig 5 will be released today. A workover rig will be commissioned as soon as available to conduct a testing program.

UNION CAPITAL (23 JANUARY 2001)

Significant and highly encouraging assay results have been returned from drilling at the Gilded Rose and Jumbo Prospects by Joint Venture partner, Newcrest Operations Limited ("Newcrest") at Croydon in North Queensland.

A 4,125 metre RC drill program was recently completed at the Croydon Project by the Joint Venture. From this program, the best results from the most exciting prospect, Gilded Rose, include 10m@10.85 g/t Au, 5m@11.56g/t Au and 2m@4.88g/t Au. These results were returned from quartz-veined oxidised volcaniclastics and quartz-sulphide veined siltstones respectively below exposed workings.

At the Jumbo Prospect, approximately 750 metres to the southwest of Gilded Rose, the best intercepts include 46m@0.54g/t Au (inc. 4m@2.3g/t Au) drilled below the main set of Jumbo workings from a sequence of weakly quartz veined sericitic felsic volcaniclastics.

Results from the Gilded Rose Prospect are to be followed up with Reverse Circulation ("RC") drilling to ascertain the strike continuity of the high grade mineralisation. This program will commence as soon as the wet season subsides and it is possible to mobilise a suitable drill rig to site.

The Joint Venture continues to explore the Croydon area for large tonnage, intrusive-related economically viable gold deposits.

LAKES OIL (22 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 2117 metres and preparing to run Drill Stem Test No. 4 over the interval 2100 metres to 2117 metres. This test is designed to evaluate one of a continuing series of gas shows (with components up to C4) within the Strzelecki Formation sands.

As previously reported Drill Stem Test No. 3, run over the interval 1885-1940 flowed at 23 thousand cubic feet of gas per day, and also recovered 1650 metres of water from the drill string.

QUEENSLAND GAS COMPANY (22 JANUARY 2001)

QUEENSLAND GAS COMPANY’S FIRST APPRAISAL WELL SPUDS

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that the first appraisal well at the Argyle coalbed methane (CBM) field, Argyle No. 2 spudded at 0800 hours on 19 January 2001.

The well is located approximately 900 metres south of QGC Argyle No 1 and approximately 25 kilometres south of the township of Chinchilla in the Surat Basin in Queensland. Argyle No 1 flowed gas at a rate in excess of 1 million cubic feet per day (28,300 cubic metres per day).

Argyle No. 2 is the first of a three well appraisal to test the Macalister Upper and Lower seams in the Upper Walloon Coal Measures. The well is programmed to a total depth of approximately 280 metres and is located within Authority to Prospect for Petroleum No. 620P. This well will earn QGC a 50% interest in the Walloon Coal Measures in ATP 620P. At 1700 hours on 21 January 2001 the well had reached 239 m preparing to run 6 5/8" surface casing.

BEACH PETROLEUM (20 JANUARY 2001)

The Cashmere-1 exploration well in ATP541P, Cooper/Eromanga Basin, Queensland, reached a total depth of 1,706m at 07:00 hours on 18 January. The well did not encounter significant hydrocarbon shows and is currently being plugged and abandoned.

COEUR D'ALENE MINES (20 JANUARY 2001)

Coeur d'Alene Mines Corporation (NYSE: CDE) announced that the Company has completed a comprehensive exploration and in-fill drilling program at its flagship Rochester property near Lovelock, Nevada. Since the program commenced in the second quarter of 2000, Coeur has drilled 161 reverse circulation holes that totaled 61,545 feet. The first phase focused on areas within and around the perimeter of the main Rochester pit in order to expand the current pit limit and increase mine life. The second phase of drilling was designed primarily to follow up on favorable results from the first phase and to test areas even further outside of the ultimate pit boundary, mainly to the east and south of current operations.
Although results of the drill program are still under review, initial assays have been very encouraging, especially Hole # K0126RC that intersected high-grade mineralization approximately 375 feet southeast of the current pit boundary.

In conjunction with the program at Rochester, exploration drilling was also carried out at the Nevada Packard satellite deposit, located approximately one and one-half miles to the south of the main pit. At Nevada Packard, a total of 73 drill holes were completed last year comprising 23,920 feet. Final compilation and analysis of drill data have not been completed, but drilling to date has successfully extended and deepened previously known mineralization and resulted in the discovery of new east and west ore zones.

GREENSTONE RESOURCES (20 JANUARY 2001)

Greenstone has acquired a regional package of prospective tenements from Homestake Gold of Australia Limited which complements its current extensive holdings. The package represents almost all the holdings of Homestake in the Raversthorpe area except for tenements held in Joint Venture with other companies.
The tenements are numbered E74/209, E74/243, E74/219, E74/221 and E74/222.

GTN RESOURCES (20 JANUARY 2001)

REPORT FOR THE QUARTER ENDED 31 December 2000 - HIGHLIGHTS

• Sapphire production at both Subera and Warrandah was above planned levels;
• Subera and Warrandah profit contributions exceeded budget expectations;
• Development consent was obtained for the Weean mine (50% GTN) and production is expected to commence during the March quarter;
• Sapphire market prices remain strong.

NEW ZEALAND OIL & GAS (20 JANUARY 2001)

New Zealand Oil & Gas Limited advises that following drilling and evaluation of data from Tusk-2, the well will be flow tested during the coming week.
Since commencing drilling operations on 10 January in a location 1 km north of Tusk-1 in WA246P, Tusk-2 has been drilled to total depth of 1377m measured depth (MD), core has been cut and wireline logs run in order to evaluate shows observed during drilling.

TRITON CORPORATION (20 JANUARY 2001)

HIGHLIGHTS - December Quarter

• Drilling was carried out on Millennium's Mount Buckaroo project east of Mudgee in Central New South Wales.
• Potential joint venturers have conducted data reviews and field trips to examine the QVR gold and Israelite Bay heavy mineral sands projects.
• Sons of Gwalia Limited, Delta Gold NL and Anglo Gold Australasia have continued exploration on Millennium and Triton project areas.
• New joint venture imminent at Yarindury in Central New South Wales.

LAKES OIL (19 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") advises that Drill Stem Test No. 3 at the Gangell-1 well, (located in PEP 157 in the onshore Gippsland Basin), which tested a sand interval within the Strzelecki Formation, has flowed gas to surface at a rate of 23 thousand cubic feet (650 cubic metres) per day.

In light of the results of this test Lakes is now considering deepening of the well beyond the programmed total depth of 2000 metres.

For more information on Gangell-1, click here.

LAKES OIL (19 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1940 metres and preparing to run Drill Stem Test No. 3.

This test will be run over the interval 1885 to 1940 metres, and is designed to evaluate continuing gas shows within the Strzelecki Formation sands.

MACMIN (19 JANUARY 2001)

FOURTH QUARTER TECHNICAL REPORT - 2000

SUMMARY AND COMMENTS

1.1 Texas Project

A recently completed feasibility study outlined the following proposed development plan. This plan supercedes previous plans.

Silver resources in the Texas silver, zinc, lead metalliferous district of South East Queensland, Australia, will be developed over four stages. Stages 1 to 3 involve mine development at the Twin Hills site and stage 4 is an anticipated new mine development elsewhere in the Texas district. Stage 1 should commence in the first half of 2001, Stage 2 in early 2003, Stage 3 in 2004, and Stage 4 between 2005 and 2010.

QUEENSLAND GAS COMPANY (19 JANUARY 2001)

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that the fourth well in their five well Initial Drilling Programme, Pinelands No 1 coalbed methane (CBM) well, encountered gas in coal seams of the Walloon Coal Measures while drilling in the interval 414.8 to 549.8 metres. These seams are water filled and produced 10,600 cubic feet per day (300 cubic metres per day) of gas through a _ inch choke and approximately 34 barrels per day of water to the surface.

Pinelands No. 1 has demonstrated that the lower coal measures of the Walloon Coal Measures are also gas prone. Nett coal over the interval 249.6 metres to 541.9 metres totalled 57.0 metres and once the water filled coal seams in the well are dewatered, significantly increased CBM gas flow rates are anticipated.

LAKES OIL (18 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1865 metres and drilling ahead in the Strzelecki formation with continued gas shows.

The well is now drilling ahead to its programmed total depth of 2000 metres in an endeavour to intersect sands of better reservoir quality than those drilled to date.

ALKANE EXPLORATION (18 JANUARY 2001)

Drilling to commence McDonough Lookout Nickel Sulphide Prospect

Jubilee Mines NL (Jubilee) has the right to earn a 75% interest in Alkane's four prospects in the Leinster - Mt Keith region of WA by the expenditure of $4.5M before March 2005.
During the next quarter, Jubilee plans to complete the moving loop EM survey, undertake detailed fixed loop EM surveys over the identified anomalies, and commence drill testing of the targets.

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DIAMOND ROSE (18 JANUARY 2001)

BHP as manager of the Upper Beta Creek Joint Venture has informed Diamond Rose that it aims to commence a Falcon Airborne Gravity Gradiometer survey in the next day or so (weather permitting).
The purpose of the survey, through this latest technology, is to assist in the location of kimberlite pipes on the property and to assist in the prioritisation of the existing electromagnetic anomalies, at least one of which has an electromagnetic signature at surface larger than the Argyle Mine. This investigative work would otherwise take longer to complete.

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HILL 50 GOLD (18 JANUARY 2001)

Hill 50 announced record quarterly gold production of 52,522 ounces at a cash operating cost of A$340 per ounce from its Mt Magnet operations for the December 2000 quarter.
The project generated an unaudited cash operating surplus of A$8.18 million for the quarter from an average realised gold price of A$500 per ounce.
Half yearly production rose to 101,796 ounces.

Hill 50 Managing Director Peter Cook said, "It is a pleasing result and the Company's short term objective to produce at the 200,000ozpa level has now been reached and should be sustained."
At its AGM in November 2000, Hill 50 Gold announced its intention to pay 50% of its audited after tax profits as dividends to its shareholders commencing in the current year.
Cook went on to say, "Despite the negative sentiment of the gold sector weighing heavily on the Company's share price over the last month, the Company's mining operations are performing the best they ever had since the acquisition of the mine from WMC in July 1997."

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INPEX (18 JANUARY 2001)

It was reported that drilling (Titanichthys-1, the third appraisal well) at Tokyo-based Inpexs' wholly owned WA-285-P in the Browse Basin, north of Broome in WA, had indicated a huge hydrocarbon reservoir containing up to 10 trillion cu ft of gas and 600 million bbls of condensate.
In May 2000, Inpex reported that its first well, Dinichthys-1, flowed at 22 million cu ft of gas and 1300 bbls of condensate a day.

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MOSAIC OIL (18 JANUARY 2001)

The Downlands East No 1 well was at 1780 meters and drilling ahead.
The total depth of the well is estimated to be 1870 meters.

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NORMANDY MINING (18 JANUARY 2001)

DECEMBER QUARTER -OVERVIEW

GOLD
* ATTRIBUTABLE PRODUCTION
- 565,695 ounces (543,969oz)
- Total cash cost, $300 per ounce ($298/oz)
- Attributable gold sales, 560,752 ounces (512,659ozs) at an average realised $563 per ounce ($542/oz)
- Margin, $263 per ounce ($244/oz)

* DEVELOPMENT
- Boddington Expansion, owner review commenced
- Groundrush, feasibility scheduled for completion June 2001
- Perama (Greece), licensing and approvals progressing
- Yamfo-Sefwi/Area E (Ghana), feasibility completion due January 2001

* EXPLORATION
- End of field season results in reduced activity
- Boddington, high grade quartz vein confirmed at Hovea

NON-GOLD

* GOLDEN GROVE (ZINC-COPPER)
- Zinc concentrate production - 41,773 tonnes (67,862t)
- Average realised zinc price 87.7c/lb (US46.7c/lb, down US5.2c/lb)
- Successful copper ore commissioning
- Gossan Hill, new mineralised zone identified adjacent to Amity

* KASESE (COBALT)
- Improved production and cathode purity

CORPORATE
* Australian Magnesium Corporation - financing progresses
* Mr Ken Spencer appointed Non-executive Director, 1 December 2000

FINANCE
* Hedging restructure increases gold price participation
* Peruvian dispute settlement proceeds received
* Various non-core and non-gold tenement interests sold/subject to sale agreements
* Financial results for the three months and six months to 31 December 2000 will be released 14 February 2001

(Previous quarter figures bracketed in italics)

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PORTMAN (18 JANUARY 2001)

HIGHLIGHTS TO 16 JANUARY 2001

CORPORATE
* Appointment of Ian Burston as Managing Director on 15 December 2000
* Listing on the Alternative Investment Market ("AIM") of the LondonStock Exchange scheduled to occur on 29 January 2001.

KOOLYANOBBING IRON ORE PROJECT
* First stage dredging completed on December 20 and full Panamax cargoes of 70,000 tonnes now loading at Esperance.
* Environmental approval for all aspects of Esperance Port development received.
* Additional 300,000 tonne stockpile facility put to tender.
* Exploration drilling program completed at J1 and J2 deposits at Mt Jackson. Clearance received for drilling program at Windarling.
* Further agreements for additional trial shipments to Japanese steel mills.* Westrail freight sold to Australian Rail Group.

COCKATOO ISLAND IRON ORE PROJECT
* Year to date shipments of 405,032 tonnes by 3 December well ahead of budget.
* Customer demand for premium fines remains extremely strong. All available tonnage sold out until April 2001.
* Studies commenced to extend mineable reserves beyond original mine plan.

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SUMMIT RESOURCES (18 JANUARY 2001)

Summit Resources Limited ("Summit") has purchased Resolute Limited's ("Resolute") 50% interest in the Isa North exploration permits and application areas covering around 1150sqkm of the Mount Isa Inlier immediately north of MIM's Isa, Hilton and George Fisher base metal mines.
Summit acquired Resolute's interest in the tenements and base metal target areas for A$75,000. Resolute retains a 50% interest in the Valhalla and Skal uranium deposits and a buy back right (at a 200% premium) of 50% of Summit's interest in any uranium resource discovered near Valhalla. Resolute's interests are now confined to a 50% contributing interest in the two Uranium Areas and their rights in the Buy Back Area as shown on the attached plan. Summit retains management of the new Isa Uranium Joint Venture covering these Uranium Areas.

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SUN RESOURCES (18 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Farmin to PEP 38335, East Coast Basin, North Island of New Zealand completed. Waitaira Prospect (88 MMBO/ 360 BCF gas) to be drilled late January - mid February 2001.
• High graded prospects/leads in PPL 213 and PPL 202, PNG rationalized by a new small permit APPL 228. Most promising prospect, Amdi Anticline (up to 755 MMBO) to be matured for drilling in 2002.
• Negotiations to be finalised, early first quarter 2001, on farmin to drilling short lead time to cash flow exploration prospects in California, USA, where high gas prices (A$14-18 equivalent/gas unit) prevail.

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TAP OIL (18 JANUARY 2001)

The operator of the Harriet Joint Venture has released its reserve estimate for the Linda field, discovered in July 2000.
This reserve estimate is based on the drilling of Linda-1. A further appraisal well, Linda-2 is planned to be drilled in March 2001 which is designed to better define the down dip extent of the field but importantly, could demonstrate the existence of an oil leg.
The proven and probable reserve estimate for the Linda Field is as follows:

Condensate (mmbo) 5.0
Gas(PJ) 152
Total (mmboe) 28.8

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XENOLITH GOLD (18 JANUARY 2001)

In their Corporate Profile, dated January 2001, Berkley Petroleum Corp (BKP) reported a potential recoverable gas reserve of 3.1 trillion cubic feet in the eastern anticline at the East Lost Hills project. To our knowledge this is the first occasion that BKP, as operator of the East Lost Hills project, has publicly placed a figure on potential recoverable reserves. The figure of 3.1 TCF is particularly relevant bearing in mind that only three wells have been drilled to-date, coupled with the fact that BKP is a company of high technical repute with a reputation for conservative reporting of reserves.

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MACMIN (17 JANUARY 2001)

LAKES OIL (17 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1635 metres and drilling ahead in the Strzelecki Formation.

Core No. 1 was cut over the interval 1566 to 1584.5 metres, with 100% recovery. Dips measured in the core are consistent with those expected for the proposed fan (8-10 degrees), however, sands within the core were tight. Gas bleeding was noted, consistent with a tight reservoir.

The well is now continuing to drill through the target interval in an endeavour to intersect sands of better reservoir quality at a lower level.

AUSTINDO RESOURCES (17 JANUARY 2001)

December Quarter

Overview

EQUINOX RESOURCES (17 JANUARY 2001)

BILLITON AND EQUINOX RESOURCES ENTER INTO COPPER EXPLORATION AGREEMENT IN SOUTH AUSTRALIA

Billiton Plc announces that its subsidiary Billiton Exploration Australia Pty Ltd ("Billiton") has signed an agreement with Equinox Resources Limited ("Equinox") in relation to their Ethiudna exploration licence in South Australia. Ethiudna is in the Curnamona Craton and is regarded as prospective for the discovery of new iron oxide hosted copper-gold orebodies, similar in style to either the Olympic Dam or Ernest Henry deposits. The key components of the proposed agreement include:

1 Billiton will subscribe for 3,846,154 shares at a price of A$0.13 for proceeds to Equinox of A$500,000. The placement funds will be used by Equinox for exploration within EL 2258, including drilling of magnetic and geochemical anomalies.

2 Equinox has committed to spend A$500,000 on exploration of their granted Exploration Licence 2258 in South Australia within 12 months.

3 Within 45 days of the designated funds being spent and the results reported to Billiton, Billiton can elect to take an Option wherein it can earn a 50% interest in EL 2258 by funding additional exploration expenditure of A$1.5 million within a period of two years. Equinox will manage this phase of exploration.

4 Billiton can elect to earn a further 20% (aggregate 70%) in EL2258, within an additional 3 year period by either completing a feasibility study or expending an additional A$3.5 million on the project. Billiton can elect to manage the project at the start of, or during, this phase of exploration.

NORMANDY NFM (17 JANUARY 2001)

OVERVIEW

* Mine production
- a record 116,438 ounces (94,286 ounces)
- average grade 6.3g/t, up 22 percent

* Gold sales - 116,612 ounces (87,543 ounces)

* Cash margin - $289 per ounce ($217 per ounce)
- net average realised gold price $544 per ounce ($539 per ounce)
- total cash cost $255 per ounce ($322 per ounce)

* Groundrush - feasibility study scheduled for completion mid 2001

* No debt; cash and bullion at 31 December 2000
- $22.8 million ($10.3 million), unaudited

* Hedge book
- mark-to-market value $55.7 million ($9.9 million), unrealised
- positions increase by a net 100,883 ounces
* Financial results for the three months and six months to 31 December 2000 will be released 9 February 2001
Note: Previous quarter figures bracketed in italics. Australian dollars, unless specified otherwise.

NORWEST ENERGY (17 JANUARY 2001)

Norwest Energy NL advises that the Puffin-6 is expected to commence drilling on about the 27th January 2001. This date may vary according to the operations associated with the well proceeding Puffin 6.
Puffin-6 will be drilled as a follow up to the oil discovery made at Puffin 5 in June 2000 and will be drilled 3.5 kilometres southwest and updip of Puffin-5.

TITAN RESOURCES (17 JANUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Record half year production and sales figures
• Unaudited half year profit of $3.1 million
• Completion of a major geophysical survey in the Karratha area
• Ongoing progress with BioHeap(TM) development and approval for the next stage of site testing
• Federal Government R & D grant of $2.0 million approved
• Purchase of the remaining 25% equity in Pacific Ore Technology (Australia) Limited giving Titan total ownership of the BioHeap(TM) process as applied to nickel mineralisation

LAKES OIL (16 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1568 metres and cutting core No. 1 in the Strzelecki Formation.

Gas shows have continued since the last drill stem test interval (1378-1425 metres), extending into what we interpret as the target zone. Core No. 1 is being cut to evaluate reservoir quality within this interval. The well is currently scheduled to drill to a total depth of 2000 metres.

Gangell-1 is designed to test the potential of an alluvial fan within the Strzelecki Formation, which lies below the traditional Latrobe Group reservoirs of the Gippsland Basin.

GENETIC TECHNOLOGIES (16 JANUARY 2001)

The Company previously announced it is progressively disposing of all non-core assets including mining assets and investments in order to focus on biotechnology in the future.

The Company is pleased to advise it has now disposed of its investment of shares and listed options in Renewable Energy Limited. The disposal has resulted in the Company realising $3,415,869 in cash and resulting in a profit on sale of $2,312,929.

The Company also advises its listed Canadian subsidiary has completed its one for two share consolidation and name change from YKR International Resources Limited to Gtech International Resources Limited. The new trading symbol on the Canadian Venture Exchange is "GCH". Gtech International Resources Limited has also received two further option payments amounting to C$80,000 in respect of its two remaining Canadian mining exploration assets.

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AQUILA RESOURCES (16 JANUARY 2001)

Aquila announced that it has reached agreement with Pasminco Limited ("Pasminco") to purchase Pasminco's 49% interest in the Ernest Henry Copper-Gold Mae (the "Mine") for a cash consideration of S145 million.

Alternatively, Aquila has the option to pay $150 million, in which event the consideration will be payable as follows:-

• $115 million at settlement; and
• $35 million by way of equal annual instalments over 7 years commencing at the end of the third year.

ABN-AMR0 Australia Limited has been appointed to act as financial adviser, arranger and underwriter to provide loan funds of $115 million for this acquisition.

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BLIGH OIL & MINERALS (16 JANUARY 2001)

NEW ZEALAND - PEP38719, Taranaki Basin, Bligh Interest: 5.00%
The Rimu-A2 is currently drilling in 8 1/2" hole at an along hole depth of 2925 metres.
The Rimu-A2 well is being drilled directionally to 4000m TVD, with an approximate bottom hole location 760 metres north-northeast of the Rimu-A1 exploratory well, which tested at rates up to 1,525 barrels of oil per day and 4.8 million cubic feet of natural gas per day from the Upper Tariki sandstone.

NEW ZEALAND - PEP38718, Taranaki Basin, Bligh Interest: 10.00%
The Tuihu-1 exploration well was drilled to a total depth of 4530 metres, at which depth wireline logs were run.
Evaluation of the logs indicated the Tariki sandstone to be gas bearing but of low porosity. The decision was made to not test the Tariki sandstones and to plug and suspend the well.
The well has been suspended to allow the drilling of a directional sidetrack to evaluate oil shows encountered in the Tikorangi Formation. Production from the Tikorangi Formation in nearby wells is obtained from fractures, typically intersected by drilling directional wells. The timing of this operation has yet to be determined.

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CONQUEST MINING (16 JANUARY 2001)

DECEMBER 2000 QUARTERLY REPORT

BOW RIVER: CONQUEST / ASTRO MINING NL JOINT VENTURE

OVERVIEW
The year 2000 exploration bulk-sampling program was designed to test for the occurrence of diamonds in the gravel deposits south of the Argyle mine and in the gravels of the Bow River drainage system. This sampling has confirmed the geological concept that diamonds have been eroded into the Bow River system from the Argyle pipe. The program has been positive in that diamonds have been recovered from every sample processed from the areas south of the Argyle mine and along the Bow River, but the grades returned to date are too low to be economic. The largest diamond recovered to date is a 0.73 carat, white, near gem diamond, recovered 30 km downstream from the Argyle mine.
The recovery of diamonds from the Bow River is a very significant advance in the exploration for economic alluvial diamond deposits in the Conquest JV area.

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NORMANDY MT LEYSHON (16 JANUARY 2001)

OVERVIEW - Second Quarter Activities Report

• Mine production - 67,874 ounces (71,192 ounces)
• Gold sales - 67,871 ounces (71,193 ounces)
• Cash margin - $168 per ounce ($191 per ounce)
  - net average realised gold price $488 per ounce ($487 per ounce)
  - total cash cost $320 per ounce ($296 per ounce)
• No debt; cash and bullion at 31 December 2000
  - $47.5 million (unaudited)
• Financial results for the three months and six months to 31 December 2000 will be released on 12 February 2001

Note: Previous quarter figures bracketed in Italics. Australian dollars, unless specified otherwise.

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RIMFIRE PACIFIC MINING (16 JANUARY 2001)

Rimfire's consultant diamond petrologist, Dr B J Baron, has reported that the prospectivity of the company's diamond project near Bingara in northern New South Wales has been "very significantly enhanced" and "substantially upgraded" by "very encouraging recent results of garnet geochemisty".
The garnets microprobed come from three 150 kg stream sediment samples draining the south eastern side of the Tom and Jerry anomaly, one of Rimfire's first order targets in the Bingara region and approximately 150deg km 20'46" E, - 30deg 9'36" S, and approximately 17 km south west of the Nareena anomaly.

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WMC (16 JANUARY 2001)

PRODUCTION INCREASED FOR ALL COMMODITIES

We have finished 2000 with increases in production over 1999 in every commodity. The fourth quarter has seen yet another production record at our Olympic Dam operation, increased production for nickel concentrate, metal and matte, and continued good production performance from AWAC.

Olympic Dam produced at a rate in excess of 210,000 tonnes of refined copper a year in the fourth quarter, well above its rated capacity and treatment of accumulated gold in solution led to record production of 28,847 ounces of gold. The nickel operations achieved production increases in concentrate, matte and metal and are set to achieve an excellent financial result.

AWAC's alumina operations had another strong quarter, setting production records at Kwinana, Wagerup and Pinjarra.

After recommencing production in September, the fertilizer plant had its first quarter of continuous operation, achieving production of 64 per cent of capacity.

The 5 per cent share buy back is almost complete, with over 56 million shares bought back at a total cost of $417.1 million.

We have taken a further option to examine the Corridor Sands opportunity.

The organisational changes announced during the quarter reflect our continuing focus on reducing costs, managing existing assets to achieve greater returns, enhancing service delivery and reducing duplication in our business.

Towards the end of the quarter there was some weakening in demand for our products with consequent moderation in prices. Despite this, our entire 2001 copper production and a substantial share of our nickel, alumina and uranium production are committed under contract.

2000 was a watershed year in the transformation of WMC. We enter 2001 in a very good position to gain solid earnings from the quality assets we have created over the past four years, and to grow through incremental expansion, improved business systems and strategic projects.

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LAKES OIL (15 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1483 metres and drilling ahead in the Strzelecki Formation.

Drill stem test No. 2 was run over the interval 1378 to 1452 metres, and was designed to test a series of gas shows within sands over this interval. The test recovered approximately 255 metres of mud, indicating the interval lacked permeability.

Gangell-1 is designed to test the potential of an alluvial fan within the Strzelecki Formation, which lies below the traditional Latrobe Group reservoirs of the Gippsland Basin. The top of this fan is expected at approximately 1500 metres, and should be intersected during today’s drilling.

AUSTRAL COAL (13 JANUARY 2001)

Fourth Quarter Activities Report - SIGNIFICANT EVENTS

• Production for the quarter was 423,000 ROM tonnes bringing the total for the year to 1,602,000 ROM tonnes, essentially the same as the previous year.
• Sales for the quarter were 528,000 tonnes bringing the total for the year to 1,585,000 tonnes. In addition, a shipment of 63,000 tonnes originally scheduled for late December sailed on 1st January.
• Demand for Austral's coal remains strong with sales in excess of 450,000 tonnes confirmed for the March 2001 quarter.
• Market indications and preliminary discussions with some customers support the notion that there will be a significant rise in the price of coal for 2001 contracts.
• International Mining Consultants completed a preliminary report on future development options at Tahmoor and recommended development of the North Tahmoor reserves ahead of Bargo.
• Construction of a coal-seam methane power plant at Tahmoor was completed and is currently being commissioned.
• All outstanding options on issue expired unexercised on 31st December 2000.

BHP (13 JANUARY 2001)

BHP Limited (BHP) announced further results from the appraisal drilling programme of Mad Dog, one of its three oil field discoveries in the Atwater Foldbelt. The Atwater Foldbelt is one of the Company's key exploration plays in the deep- and ultra-deepwater Gulf of Mexico.

The Mad Dog #3 appraisal well is located in Green Canyon Block 783 in 4,320 feet of water. It is located approximately 1.7 miles northeast of Mad Dog #2 and approximately 3.7 miles northeast of the original discovery well. The purpose of the Mad Dog #3 well was to determine the extent of the field to the northeast.
The well reached a total depth of 21,810 feet, encountering 200 net feet of hydrocarbon bearing sands. In addition, the well delineated the extent of the previously recognized Miocene reservoirs and provided a better understanding of the structural complexity of the field.
A sidetrack was drilled updip some 4,000 feet to the southwest of the original borehole into GC Block 782. Drilled to a total depth of 22,426 feet, it confirmed the lateral extent and thickness of th hydrocarbon-bearing Miocene reservoirs penetrated in the original wellbore.

CENTRAL NORSEMAN GOLD CORPORATION (13 JANUARY 2001)

Fourth Quarter Activities Report - released.

CONSOLIDATED RUTILE (13 JANUARY 2001)

Fourth Quarter Activities Report - released.

Production of rutile in the 3 months to 31 December 2000 was 8% above the September quarter whilst zircon production was restricted by the mineral assemblage mined at Yarraman.

The quarter saw higher throughput at both the Yarraman and Ibis mines, production being tempered by lower grades at the Ibis mine as a result of modifications to the dredge path in order to assist ground stability and water management.

Rutile and zircon production for the 12 month period ending 31 December 2000 was higher than the corresponding period as production for 1999 was impacted by the relocation of the Gordon mine plant to the Yarraman ore-body.

EXPLORATION
NORTH STRADBROKE ISLAND
CRL continues it's drilling program aimed at upgrading the Herring-Enterprise reserves from Probable to Proven Reserve status. In the three months to 31 December 2000 a total of 7,683 metres were drilled (12 months to 31 December 27,625 metres).

Total expenditure during the quarter was $164,000 (12 months to 31 December $629,000). Expenditure for the year includes $127,000 spent on environmental, cultural heritage and stakeholder consultation initiatives.

CROESUS MINING (13 JANUARY 2001)

Recent drilling from the Lady Gladys deposit at Davyhurst has yielded high grade intercepts from several consecutive holes, providing the potential for a significant resource increase.
The intercepts appear to form two separate lodes that dip shallowly to the east and remain open to the north south and east.

Croesus Mining Exploration Manager Michael Fowler said "the results are very encouraging for our first program in this area and while there is much work to do we are confident of extending this zone".
The gold mineralisation is shallow occurring between 8 and 60 metres below surface. Infill and deeper drilling will commence shortly.

FIRST AUSTRALIAN RESOURCES (13 JANUARY 2001)

HIGHLIGHTS - December Quarter:

UNITED STATES OF AMERICA

• Quarterly sales hit the million dollar mark (AUD$1,010,800)
• Next well at Lake Long to spud during January 2001
• Gas sales commence at Clear Branch Field

AUSTRALIA

• FAR commits to drilling offshore Banjo Prospect (EP 397) - strong farm-in interest shown by industry
• New play types identified offshore EP395
• New mapping in offshore WA-254-P identifies Collier oil Prospect

GAWLER GOLD & MINERAL EXPLORATION (13 JANUARY 2001)

The securities of Gawler Gold and Mineral Exploration Limited will be reinstated to official quotation at the commencement of trading on Monday 15 January 2001, following the completion of the acquisition of Australon Enterprises Pty Ltd ("Australon") and compliance with listing rule 11.1 and chapters 1 and 2 of the listing rules. Shareholder approval was obtained for the acquisition of Australon, and change to the Company's activities, on 9 January 2001.
Please note that the Company will be reinstated under the existing code GAW. The company's code is expected to change to AUR shortly following reinstatement.

HELIX RESOURCES (13 JANUARY 2001)

HIGHLIGHTS DURING THE QUARTER

• Helix Resources NL acquires 100% ownership of the Munni Munni Platinum Group Metals (pgm) Project (Munni Munni) near Karatha in Western Australia.
• Re-assaying of existing Munni Munni drillcore increases palladium and platinum grade by up to 24 percent and confirms a consistent component of rhodium.
• Scoping Study commences; the Report which is due for completion in March 2001, will review the ore resource, mining and metallurgy of Munni Munni.
• Construction of field camp commences as a prelude to major resource and exploration and drilling campaign planned for commencement in January 2001.
• Share placement in December 2000 raises an additional $1.9 million giving the Company a total of $4.3 million of funds for exploration.
• Exploration identifies a new pgm geochemical anomaly at the Jutson Rocks prospect.

HILLCREST RESOURCES (13 JANUARY 2001)

EXPLORATION
NORTHAMPTON - WESTERN AUSTRALIA
Hillcrest was committed to substantial further expenditure in March 2001 in order to maintain its interests in Northampton. The ability to increase the land holding at Northampton is uncertain due to legal process and the timing of any decision was undetermined but not expected in the short term. With a very restricted land holding and no certainty of increasing this holding Hillcrest is unable to commit to further expenditure and has withdrawn from its agreements at Northampton.

WARROO - QUEENSLAND
The Company's subsidiary, Cuprifex Mining NL, was the registered owner of three mining leases and one exploration permit located at Warroo, Queensland. Cuprifex has withdrawn the renewal application for ML 5925 at Warroo and the Mines Department have advised that ML 5925 has expired.

Negotiations are continuing with the Department of Mines and Energy, Queensland as to the specific nature of any rehabilitation work to be carried out at Warroo.

ILUKA RESOURCES (13 JANUARY 2001)

Iluka Resources has completed a successful annual round of contract negotiations for the sale of titanium minerals and zircon in 2001.
The Company's expected production for the year has been placed with Iluka's existing customers, and a number of new buyers.
Managing Director Malcolm Macpherson says the negotiations have produced generally robust prices - including some significant increases - for this year's sales.
The Outlook for Iluka's principal markets in North America, Europe and Asia remains positive despite signs of a slowing world economy.
The Company's titanium minerals - synthetic rutile, rutile and ilmenite - are attracting strong market interest from titanium dioxide pigment manufacturers.
Zircon is in demand for ceramics and high technology products - including televisions and computer monitors. Buoyant market conditions and rising prices are expected to continue throughout 2001.
Based on the results of the latest negotiations, Iluka plans to increase production from its existing Australian operations this year. The Company is optimistic about the prospects for expansion in USA, where a detailed feasibility study is reviewing proposals for a 70% increase in production.

National Australia Bank Limited Group became a substantial shareholder in Iluka Resources Limited on 05/01/2001 with a relevant interest in the issued share capital of 11,045,442 ordinary shares (5.073%).

MIM HOLDINGS (13 JANUARY 2001)

Second Quarter Activities Report

• Generally good mining performances; some reductions in refined metal production.
• Mount Isa copper and lead smelters regained production after planned shutdowns for refurbishment, although the lag effect restricted Townsville and Northfleet refinery outputs.
• Wet weather at Mount Isa impacted zinc treatment and product deliveries late in the quarter.
• Mill throughput lifted at Alumbrera; production continued to increase at Ernest Henry.
• High coal production, although Newlands output restricted by poor geological conditions.
• Production at Avonmouth continued to be significantly interrupted by plant breakdowns.

MOSAIC OIL (13 JANUARY 2001)

The Downlands East No 1 well was at 1190 meters and drilling ahead.
The total depth of the well is estimated to be 1870 meters.
The target is the Permian Tinowon Sandstone.

NEW ZEALAND OIL & GAS (13 JANUARY 2001)

Drilling of the Tusk-2 appraisal well, offshore Carnarvon Basin, Western Australia commenced at 1230 hours WST on 10 January 2001. It is expected to take 8 days to drill to a total depth of 1375 metres and evaluate the objective sands.

PORTMAN (13 JANUARY 2001)

West Australian iron ore producer, Portman Limited (ASX:PMM) announced today that the first Panamax vessel had been fully loaded at the Port of Esperance, representing a further major milestone in the expansion of the Company's Koolyanobbing iron ore operations.
The MV 'PEORIA' carrying 68,869 tonnes of Koolyanobbing iron ore departed on 8 January at 18.30 hours bound for the Japanese market, the first time a ship of this size had been able to be fully loaded at Esperance. Previously Panamax vessels had only been able to load to a depth of 11.5 metres or about 50,000 tonnes.

QUEENSLAND GAS COMPANY (13 JANUARY 2001)

PINELANDS NO.1 FLOWS GAS AND WATER

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that the fourth coal bed methane (CBM) well in their five well Initial Drilling Programme, Pinelands No 1, encountered gas in a number of coal seams from the lower part of the Walloon Coal Measures while drilling in the interval 390.8 metres to 549.8 metres. CBM gas flowed to the surface together with approximately 20 barrels per day of water.

The Acting Chief Executive Officer of QGC Mr Denis Patten said that this result showed that the lower coal measures of the Walloon Coal Measures - which had not previously been evaluated by QGC - were also gas prone. He said this was very encouraging, given that once the water filled coal seams were dewatered, significant CBM gas flows could be anticipated.

Mr Patten also advised that the upper coal section, encountered in the well over the interval 249.6 to 360.8 metres; and aggregating 23.8 metres of coal would now be stimulated. This coal interval could not be evaluated initially, due to formation damage during drilling.

SUN RESOURCES (13 JANUARY 2001)

Sun advised commencement of drilling of Waitaria 2 24th January 2001 in PEP 38335, East Coast Basin on the east coast of the North Island of New Zealand. Sun will contribute 10.0% of the dry hole drilling costs of the Waitaira Prospect after which its ongoing contribution will be at its 7.5% interest Westech Energy New Zealand ("Westech") is the operator of the permit.

TANAMI GOLD (13 JANUARY 2001)

HIGHLIGHTS - December Quarter:

• CENTRAL AUSTRALIAN PLATINUM-PALLADIUM PROJECT (100%)
  Since 1996, the Company, while focused on its Granites-Tanami Gold programs, has been compiling an extensive central Australian database including an ongoing review of the geology and prospectivity of the Proterozoic terrane surrounding Alice Springs. These evaluations have led to the Company acquiring a substantial tenement position in the area.
  A detailed technical review of all available data covering the Harts Range area has highlighted the prospectivity of the area to host a Coronation Hill style platinum-palladium-gold deposit (Pine Creek District, Northern Territory). The Coronation Hill deposit contains 4.85 Mt @ 4.3 g/t Au, 0.19 g/t Pt and 0.65 g/t Pd.
  A review of previous exploration in the district by PNC Exploration (Australia) Pty Ltd (PNC) from 1992 to 1996, indicated the presence of a number of anomalous quartz- carbonate, quartz-carbonate-tourmaline veins in the area to the south of Mt Riddoch (now EL 10078 held 100% by Tanami Gold).
  Surface samples taken by PNC returned assays in the range of:
  
  * 0.1 to 0.62 g/t platinum;
  * 0.1 to 1.4 g/t palladium;
  * 0.1 to 5.8 g/t gold;
  * 0.1 to 6.8% copper; and
  * 1 to 12 g/t silver.
  The zone of anomalous veining is associated with a chlorite-hematite altered amphibolite body over 500 metres strike and up to 150 metres wide. Several other such altered bodies in the area are mappable on satellite imagery acquired by the Company.
  Having identified the Harts Range area as prospective for epigenetic Pt-Pd-Au mineralisation, Tanami Gold has significantly increased its 100% tenement holdings in the area through making new exploration licence applications covering a further 10,109km sqm which will be subject to follow-up exploration programs by the Company with a focus on platinum-palladium-gold targets.
  
  
• HOMESTAKE AGREEMENT
  Homestake Gold of Australia Limited has taken a $1.5m share placement in Tanami Gold NL (10.275 million shares at 14.6 cents each) and entered into a major exploration commitment on the Company's western Tanami Province tenements following Tanami Gold's acquisition of various Glengary Resources NL Tanami Province tenement interests, database and plant and equipment.
  
  
• LARRANGANNI PROJECT (92.5%)
  Following the acquisition of a further 48.5% interest in the Larranganni Project from Glengary Resources, the Company recently drilled two 300 metre RC Percussion holes at the Sandpiper Prospect which returned 8 metres @ 4.4 g/1 Au and 8 metres @ 3.9 g/t Au in the lower footwall lode and 24 metres @ .22 g/t from 250 metres in the footwall lode. As both holes were scissor holes designed to test the width of mineralisation intersected in hole LSR100 (drilled in 1997) being 59 metres @ 5.5 g/t Au and to test for depth extension to the footwall lode, the results returned are highly encouraging.
  The new intersections are considered significant as they indicate that the relatively shallow drill intercepts of the Larranganni area can be followed up to depth and along strike with the potential to significantly add to existing resources.
  The Larranganni Joint Venture entered into with Homestake which was announced on 4 December 2000 will allow Howestake to test for further extensions both along strike and at depth to the mineralisation intersected to date.

LAKES OIL (12 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1281 metres and testing blow out preventers, having run and cemented intermediate 244 mm (9 5/8") casing at 1273 metres. It is anticipated the well will drill out of the casing into the Strzelecki Formation later today.

Gangell-1 is designed to test the potential of an alluvial fan within the Strzelecki Formation, which lies below the traditional Latrobe Group reservoirs of the Gippsland Basin. The top of this fan is expected to be intersected at approximately 1500 metres.

GTECH INTERNATIONAL RESOURCES (12 JANUARY 2001)

The Company announces that it has received two further option payments of C$40,000 each in respect of the exploration projects in the Yukon Territory known as "Aurex" and "Revenue".

Aurex Property

Expatriate Resources Limited (CDNX- EXR) in conjunction with Newmont Exploration of Canada Limited paid C$40,000 to the Company in respect of the Aurex Property in the Mayo Mining District. This payment was made on 4 January 2001 on the second anniversary of the option agreement. Under the option agreement, further payments are due as follows:

C$40,000 On or before 12 January 2002
C$60,000 On or before 12 January 2003

The Company has 1.5% net smelter royalty over the property which can be purchased by Expatriate at anytime for C$1m.

On 1 May 2000, Expatriate Resources Limited, with the consent of the Company, entered into an agreement with Newmont Exploration of Canada Limited whereby it assigned the rights and benefits under the option to Newmont Exploration of Canada Limited. The option agreement is subject to automatic reassignment by Newmont Exploration of Canada Limited to Expatriate Resources Limited if the option expires or is sooner terminated without exercise by Newmont Exploration of Canada Limited. Under the option arrangement Newmont Exploration of Canada Limited has the responsibility to pay the further cash payments due on 12 January 2002 and 2003.


Revenue Property

ATAC Resources Limited paid C$40,000 to the Company in respect of the Revenue Property in the Whitehorse Mining District. This payment was made on 4 January 2001 on the second anniversary of the option agreement. Under the option agreement, a further payment of C$60,000 is due on or before 12 January 2002

The company retains a 2% net smelter royalty from which ATAC could purchase 1% for $300,000 and another 0.5% for $300,000 leaving the company with a 0.5% net smelter royalty.


Mt Alexander Goldfield Project - Australia

The option agreement to acquire up to 75% of this project expired on 31 December 2000. The Company retains a 31.25% interest in the project. The balance of the project is held by Genetic Technologies Limited in Australia. Discussions are being held with other parties with a view to entering into a joint venture on the project.

LAKES OIL (11 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1281 metres and running intermediate 244 mm (9 5/8") casing.

Gangell-1 is designed to test the potential of an alluvial fan within the Strzelecki Formation, which lies below the traditional Latrobe Group reservoirs of the Gippsland Basin. The top of this fan is expected to be intersected at approximately 1500 metres.

EMPIRE OIL & GAS (11 JANUARY 2001)

Empire , through its wholly-owned subsidiary Rough Range Oil Pty Ltd, announces the decision to temporarily shut in the Rough Range 1B well which has been on Extended Production Test was made on 3 January 2000.
This decision was made upon detecting minor amounts of hydrogen sulphide being produced from the well. The shut in period will provide time to evaluate the possible source of the hydrogen sulphide and evaluate the production facilities design and make any appropriate engineering changes required as approved by the Western Australian Department of Minerals and Energy to ensure that production of crude oil is conducted safely.

GINDALBIE GOLD (11 JANUARY 2001)

A total of 1962 metres of reverse circulation percussion ("RC") drilling was completed at two prospects, Bugeye and Keronima, both located to the south of the existing resources at Minjar.
Infill drilling on the Bugeye prospect, located 8 kilometres to the south of the Silverstone deposit, has upgraded the existing resources for the purposes of the Bankable Feasibility Study.

The results from Gindalbie's first round of drilling on the Keronima Prospect highlight the potential for the Minjar Project to host additional resources to compliment the known reserves at the M1, Silverstone and Winddine Well deposits.

STRIKER RESOURCES (11 JANUARY 2001)

The company is pleased to announce results from the valuation of diamonds recovered from processed kimberlite from the Ashmore 4 pipe.
Mr Michael Farrer of Independent Diamond Valuers has assessed a total of approximately 1,700 diamonds weighing 130.74 carats from the 0.8 to 25mm size fraction excavated from the Ashmore 4 pipe, which produced an average value of US$52.47 per carat.
On the 11 November 2000, the company announced the recovery of the diamonds from two separate bulk samples from both macrocrystic (M) and breccia facies kimberlite (B) totalling 423 tonnes at a shallow depth of between 7 and 12m below surface.

LAKES OIL (10 JANUARY 2001)

GANGELL-1 DRILLING

Lakes Oil N.L. ("Lakes") wishes to announce that as at 6 am this morning the Gangell-1 well, located in PEP 157 in the onshore Gippsland Basin, was at a depth of 1281 metres and rigging up to run wireline logs. The top of the Strzelecki Formation section was intersected at 1251 metres where an increase in background gas was noted. Following the completion of logging it is intended to run and cement intermediate casing.

Gangell-1 is designed to test the potential of an alluvial fan within the Strzelecki Formation, which lies below the traditional Latrobe Group reservoirs of the Gippsland Basin. The top of this fan is expected to be intersected at approximately 1500 metres.

BEACONSFIELD GOLD (9 JANUARY 2001)

The 2001 year has started well with encouraging gold production levels being achieved at the Beaconsfield gold mine. This letter is:

GIANTS REEF MINING (9 JANUARY 2001)

A CSIRO study into the gold and base metal exploration implications from groundwater geochemistry at the Bluebush prospect near Tennant Creek in the Northern Territory, has provided the Giants Reef-Billiton alliance with "very encouraging results".

The final CSIRO report on the Bluebush groundwater geochemical data, delivered to Giants Reef during the latest December quarter, likened some of the results from the Bluebush gravity anomaly area to those occupied by groundwaters from mineralised locations at both Tennant Creek and Olympic Dam (South Australia), but without the uranium.

The main Bluebush target is a large 19 milligal gravity anomaly with a strike length in the order of 15 kilometres, situated about 35 kilometres southwest of the town.

In essence, the report concluded that gold, copper, lead and zinc mineralisation, in association with magnetite or sulphides are likely to exist in the area of the gravity anomaly.

• Drilling progress