BEMAX RESOURCES (28 FEBRUARY 2001)

SNAPPER DRILLING RECOMMENCES; RIGHTS ISSUE SUCCESSFUL

PAN AUSTRALIAN RESOURCES (28 FEBRUARY 2001)

Pan Australian enters into option agreement with BHP Minerals over Steere River Project

BUKA MINERALS (28 FEBRUARY 2001)

Preliminary information has been received from Noranda Pacific Pty Ltd (75% owner, and manager) regarding the Lady Loretta zinc project. This information takes the form of an overview, or project scoping, for the inaugural meeting of the Lady Loretta Joint Venture Operating Committee.

As part of the feasibility data, Buka has also received a new estimate for the Lady Loretta ore reserve, which represents a substantial increase from the previously published ore reserve estimate.

In this overview, key summary findings of the feasibility study (recently completed by Noranda and its consultants) have been delivered to Buka. It must be stressed that the information is not final and that the Joint Venture partners have taken no decision to commit to development of the Project.

Some more work is yet required - to complete and finalise designs, project negotiations, and to obtain all the necessary regulatory clearances, permits and approvals. Should these permits and approvals be forthcoming, a final b feasibility study could then be compiled. The partners would then meet to consider this final feasibility study and to examine options for project development. This would also require the securing of finance and offtake agreements.

Whilst this feasibility information is not final, Buka considers it is important to release the following basic parameters applicable to a potential project development at Lady Loretta, as supplied by Noranda.

• Ore reserve: 11,500,000 tonnes, grading 15.5% zinc and 5.4% lead
• Capital expenditure for a mine, site infrastructure and concentrator: in the order of A$200m
• Concentrator capacity: 1,000,000 tonnes per year
• Higher grade ore is expected to be treated in the project's early years
• Expected recovery of zinc: 84% zinc recovery into a 55% zinc concentrate (2.7% lead)
• Expected annual production of zinc concentrate: 230,000 tonnes, containing 125,000 tonnes zinc

Buka observes that the scale envisaged for this potential development at Lady Loretta is comparable to other successful base metal mining operations in Australia, including Golden Grove, the Lennard Shelf and Hellyer (recently closed).

MAIDEN GOLD (28 FEBRUARY 2001)

Maiden Gold NL advises that programmes for the period to June have been agreed with Anglovaal Mining Limited.
On the Jubilee Reef and Nyanzaga Joint Ventures IP (Induced Polarisation) and ground magnetic surveys to be conducted on both licences covering prospective zones identified by previous exploration. On completion and interpretation of this work, the Joint Venture plans to complete a total of 3,000 to 4,000 metres of RAB (Rotary Air Blast) drilling and between 1000 and 1200 metres of RC (Reverse Circulation) drilling on both licences.
The work programme for the Mwagi Magi and Ngoma Alliance Projects includes approximately 2000m of RAB and IP surveys over selected areas.

Maiden expects all the above work to be completed by the end of the June Quarter.

Following a detailed internal review and a prioritisation of funding, Anglovaal has also elected to reduce the number of Alliance Projects in the Strategic Alliance signed in October 2000. Of the 9 original Alliance Projects, only the Mwagi Magi and Ngoma Projects have been retained. The reduction has no effect on the Joint Venture projects (Jubilee Reef and Nyanzaga) or the Generative budget, which remain intact.

Maiden is free to seek other interested parties with respect to properties released from the alliance and a number of groups have expressed interest in these areas. Maiden expects to be able to Joint Venture these properties over the coming months.

NEW HOLLAND MINING (28 FEBRUARY 2001)

The Company has acquired nine mineral tenements in the Pilbara and southwest region of Western Australia totalling approximately 1,200 square kilometres.
The tenements are prospective for tantalum and have close proximity to the Gwalia flagship tantalum operations of the Greenbushes Mines in the southwest, and the Wodgina Mine in the Pilbara.
Spot prices for tantalum have increased significantly over the past two years. Tantalum is an essential refractory metal used in modern wireless communication. It is anticipated that there will be increasing pressure on prices with a shift worldwide to this technology.

In consideration for the acquisition of this portfolio of tenements the Company will pay $51,000, and issue and allot a total of 16.7 million (sixteen million seven hundred thousand) fully paid ordinary shares in the capital of the Company.

SUN RESOURCES (28 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0600 hours WST, 27 February 2001, was at total depth of 2,545 metres (8,347 feet) within the thicker sandstone units at the base of the Tunanui Formation.
Electric logging of the deepened section is currently in progress after which a potentially gas bearing zone of thinly bedded sands over the interval 1,402 to 1,412 metres (4,600 to 4,630 feet) will be tested.

WEST OIL (28 FEBRUARY 2001)

Wireline logging of the Puffin-6 Appraisal Well has been completed. These logs confirm that the Lower K1a Sands are water wet and that the oil shows encountered whilst drilling were residual oil shows.
The well is currently being plugged & abandoned.

WOODSIDE PETROLEUM (28 FEBRUARY 2001)

Woodside Petroleum Ltd., Operator of the WA-269-P Joint Venture, reports that the Atlas-1 exploration well located in the Carnarvon Basin was drilling ahead in an 8(1/2) inch hole at a depth of 3768 metres at 0600 hours WST on 27 February.
Since the last report the 14(3/4) inch hole was drilled to a depth of 2588 metres and the 9(5/8) inch casing was set at 2583 metres.
All reported depths (except water depth) are referenced to the rig rotary table.

GIANTS REEF MINING (26 FEBRUARY 2001)

Giants Reef Mining Limited is pleased to advise that it has made a successful offer, subject to normal commercial due diligence and formal documentation, to purchase Normandy Tennant Creek Pty Ltd, ACN 002 910 296 (NTC), a wholly owned subsidiary of Normandy Mining Limited (Normandy).

The purchase includes NTC's equity in the high grade Chariot gold deposit which contains an indicated and inferred 353,000 tonnes @ 20 grams gold per tonne. Chariot, which is situated 5 kilometres west of Giants Reef’s TC8 mill site, is held under a Joint Venture with Pacmin Mining N.L. ACN 066872 839 in which NTC is the manager. The deposit is not yet fully defined and is open at depth. The ore drilled to date is expected to produce 227,000 ounces of which 116,000 ounces will be Giants Reef’s.

This will take Giants Reef from being a junior explorer to a profitable gold producer.

The purchase will secure for Giants Reef, all of NTC's Tennant Creek tenements and assets. The tenements acquired through the purchase of NTC, when added to Giants Reef’s existing tenements, will result in the Company having effective control of the Tennant Creek Mineral Field.

Under the terms of the purchase, Giants Reef will pay Normandy seven million Australian Dollars (A$7,000,000) for the outright purchase of all of the shares in NTC.

In relation to the Chariot deposit, after the first 100,000 Giants Reef owned Troy fine ounces of gold produced, Giants Reef will make a payment to Normandy of thirty dollars, (A$30) for each subsequent Troy fine ounce of gold produced to Giants Reef’s account.

In relation to other tenements held by NTC, a payment will be made to Normandy of A$30 per fine Troy ounce discovered or produced for Giants Reef within 10 years following the date of acquisition. In the case of mineable discoveries made during the ten years, subject to production occurring within a reasonable time to be agreed.

Financial arrangements with bankers and financiers to the purchase are well advanced and Giants Reef is confident that it will, as required under the agreement with Normandy, satisfy the due diligence condition on or before the agreed 16th of March 2001.

For more information, click here.

QUEENSLAND GAS COMPANY (26 FEBRUARY 2001)

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that the company’s ninth well, and third appraisal well on the Argyle coalbed methane field, Argyle No. 3 spudded at 0800 hours on Friday 23 February 2001.

Argyle No. 3 is located within ATP 620P and approximately 900 metres east of the successful QGC Argyle No. 1 exploration well and 25 kilometres south of the township of Chinchilla.

Interests in the Walloon Coal Measures in ATP 620P are:

FOR MORE INFORMATION, CLICK HERE.

ACCLAIM EXPLORATION (26 FEBRUARY 2001)

Wingellina EM Approval - The Company has received approval to carry out a low-level detailed airborne electromagnetic (EM) survey to identify further nickel sulphide, platinum group metals and artesian groundwater targets prior to a reverse circulation drilling programme which is the subject of final discussions with the Traditional Owners and the Ngaanyatjarra Land Council.

BEACH PETROLEUM (26 FEBRUARY 2001)

Beach said its entry today into Australia's geothermal energy vision is a sensible commercial extension of the Company's oil and gas investment in the Cooper Basin.
A joint venture involving Beach, the CSIRO and South Australian Geothermal Energy Pty Limited (SAGE) was named by the South Australian Government today as one of three successful applications for the State's first geothermal exploration licences.

A consortium comprising of SA Geothermal Energy Pty Ltd (45%), CSIRO (45%) and Beach Petroleum NL (10%) has been advised that it will be offered Block HDR2000-A. Block HDR2000-A is located approximately 40km to the northeast of the Moomba gasfields and covers a substantial portion of the Nappamerri Trough of the Cooper Basin.
This area is considered to be Australia's foremost "hot dry rock" province, where rock temperatures commonly exceed 200 degrees Celsius at depths below 3,500m

GUNSON RESOURCES (26 FEBRUARY 2001)

Mount Gunson Copper Project - A recently completed drill hole at Elaine Prospect has confirmed the earlier geological interpretation of a steep, wide breccia zone containing Olympic Dam style iron oxide associated copper-gold mineralisation.
Since the Company's latest quarterly report, wedge hole MGD26-W1 was completed on 12th February. This hole passed through the western contact of a major mineralised breccia zone at 953 metres and was stopped in this zone at 1137 metres after the rig, rated to a depth of 1000 metres, was unable to continue.

Copper sulphide mineralisation as chalcopyrite is considerably more abundant in this breccia zone than in its western fringe. The fringe zone was encountered in the entire basement portion of the first hole, MGD26, and the upper part of the wedge hole. The highest copper value in the breccia zone is 0.5% over a 2 metre interval close to the end of the wedge hole between 1130-1132m, associated with 0.2 g/t gold and 1.8 g/t silver but much higher copper grades are possible to the east (based on geological observations).

PANCONTINENTAL OIL & GAS (26 FEBRUARY 2001)

At 1800 hrs, 25 February 2001, the Waitaria 2 well was drilling ahead at 2358 metres in the Tunanui Formation.
For the interval 2140 to 2358 metres, down-hole cutting samples and drilling penetration rates indicate only a few, 1 to 2 metre thick, fine to very fine grained sandstone beds of poor quality, interbedded within tight, calcareous, siltstones.
Background gas levels increased up to 0.16% from 0.11% after the mud weight was reduced from 16.0 to 15.8 pounds per gallon (ppg). Chromatograph reading for methane ranged up to 875 parts per million (ppm) and ethane up to 102 ppm. No formation gas peaks or fluorescence was observed.

WEST AUSTRALIAN METALS (26 FEBRUARY 2001)

West Australian Metals has concluded an agreement to purchase three mining properties in the Duketon belt north of Laverton in Western Australia's eastern goldfields region.
The three properties, namely M38/302 "The Anchor", M38/346 "Cork Tree Well" and P38/2659 "No Mistake" are being purchased from Minerichie Investments Pty Ltd and Messrs N & C Johnson. The consideration for the purchase is for WME to pay $200,000 cash and issue 5,000,000 fully paid ordinary shares and 5,000,000 options, exercisable at 20 cents each on or before 15 September 2002. Further, on or before 1 July 2001, WME will pay a further $300 per ounce for every ounce of gold up to a total of 4,200 ounces sold by WME from The Anchor between now and 20 June 2001, and further still, on or before 31 July 2001, WME will pay a Anther $250 per ounce for every ounce of gold in excess of 4,200 ounces sold by WME by 20 June 2001.

Royalty agreements are in existence relating to the Anchor and Cork Tree Well properties, The royalty payable on The Anchor tenement is 20 cents per tonne of ore mined. The royalty on the Cork Tree Well tenement is for 50 cents per tonne of ore mined and treated.

WME expects to sell any gold bearing ore at the prevailing gold price less costs of treating and cartage, which are estimated to be between $40 and $50 per tonne. Last year the vendors produced 22,642 tonnes of are mined and treated yielding 26.76 g/t Au (19,483 ounces.) from the Anchor tenement.

WEST OIL (26 FEBRUARY 2001)

The Puffin-6 Appraisal Well, which is located in permit AC/P22, has been drilled to a total depth of 2,326 metres.
A sandstone, which is considered to be the K1a reservoir objective, was intersected at approximately 2,070 metres. While drilling this sandstone unit, hydrocarbon shows were reported over a gross 26 metre interval.
Evaluation of wireline logs indicates that there is unlikely to be movable hydrocarbons trapped within the K1a Sandstone at Puffin 6 and that the hydrocarbon shows are residual.
The K5/6 Sandstone was intersected about 200 metres below the top of the K1a Sandstone. As in Puffin 5, this sandstone does not appear to contain hydrocarbons.
Seismic remapping and delineation of the oil accumulation centred on Puffin-5 based on the information gained from Puffin-6 will now commence to ascertain any possible economic viability.

EAGLE BAY RESOURCES (24 FEBRUARY 2001)

LONGREACH GOLD OIL (24 FEBRUARY 2001)

NORWEST ENERGY (24 FEBRUARY 2001)

SUN RESOURCES (24 FEBRUARY 2001)

MINERAL DEPOSITS (22 FEBRUARY 2001)

GOVERNMENT APPROVES FULLERTON EXTENSION

AUSTRALIAN HERITAGE GROUP (22 FEBRUARY 2001)

BLIGH OIL & MINERALS (22 FEBRUARY 2001)

HARDMAN RESOURCES (22 FEBRUARY 2001)

SELWYN MINES (22 FEBRUARY 2001)

SOUTHERN CROSS EXPLORATION (22 FEBRUARY 2001)

SUN RESOURCES (22 FEBRUARY 2001)

WEST OIL (22 FEBRUARY 2001)

WOODSIDE PETROLEUM (22 FEBRUARY 2001)

LAKES OIL (21 FEBRUARY 2001)

MEDIA RELEASE

21-2-01

Lakes Oil NL advises that its offshore Troas prospect in the Otway Basin, S.A., has been estimated to hold recoverable gas reserves of 325BCF to 427BCF worth between $40 million to $88 million.

Taking a mid-range value of $64 million, this equals about 11 cents a share.

There are possible larger recoverable reserves in the broader Troas complex of 874BCF yielding a NPV up to $127 million from much larger cash flows.

These estimates are contained in a detailed report on EPP 24 obtained from Prospect Evaluation Pty Ltd, which stresses the need for flow testing and market availability in its sums.

Mr Robert Annells, chairman, LKO, said: "We have now moved to 100 per cent ownership of the "Troas" prospect and are negotiating for a drilling rig "slot" in the first quarter of 2002.

"The mooted construction of an Adelaide-Melbourne pipeline and deregulation of gas markets puts Lakes in a prime position to supply these markets.

"We believe we are ideally suited to find one or more farm-in partners to carry Lakes in a reduced percentage through the drilling of EPP24."

The proposed redrilling of the "Troas" prospect follows an original probe in 1992 in which the then operator estimated gas reserves of up to 600BCF with a maximum recoverable reserve of 480BCF. These are estimates only as the early well was never tested. For more information, click here.

ICON ENERGY (21 FEBRUARY 2001)

Activity Report

Following extensive negotiations and contract agreements reached in the United States over the past two weeks, Icon is pleased to announce an accelerated drilling programme will commence shortly in Louisiana USA.

The initial drilling programme will be expanded up to seven wells which are a mix of workovers, new shallow and deep wells. This comprehensive drilling programme is expected to commence in late March/early April subject to the release of the drilling rigs from wells being drilled by the drilling contractors prior to Icon’s programme. The drilling targets are aimed at oil and gas development with one deep exploration gas well planned in the second half of the year. Site preparation is underway and permits have been obtained for the intial drilling.

Icon was prudent to have reserved drilling slots last year when equipment shortages were imminent. If it were not for this move, Icon would have been unable to commence drilling until late this year or early next year. The petroleum industry in the USA is experiencing equipment and staff shortages following the Californian power/gas crisis early this year.

In order to fund this accelerated drilling programme Icon is pleased to announce that it has reached agreement with Bligh Oil and Minerals NL to cross assign certain interests in the Victory Financial Lease and the Wilberts HBP Lease.

Icon and Bligh are already joint venture partners in the Wilberts HBP development block where Icon already has a 16.67% working interest. Icon has the right under the agreements to earn an additional 23.33% in the Wilberts HBP lease increasing Icon’s working interest to 40.0%.

Bligh has a right to earn an interest in the Victory Financial lease in which Icon’s current working interest is 100%.

The assignments bring considerable benefit to both parties not least of which is the combined capacity to fund the increased drilling development programme and accelerate the development schedule.

Documentation of the Icon/Bligh deal is being finalised and details of the cross assignments will be announced as soon as these agreements are completed.

Icon’s oil production from Bayou Choctaw is expected to grow significantly over the next few months as development wells come on production. Gas production is insignificant at this point and is used to run production equipment. No gas sales are currently made.

In Queensland, Icon and its joint venture partners have announced the application for a Production Licence over the gas discovery at Argyle #1 in ATP 620P in the Surat Basin. The third well, Argyle #5 in ATP 620P is being tested following the successful tests conducted in Argyle #1 and #2 which flowed gas at rates of over 1 million and 350,000 cubic feet of gas per day respectively. Argyle # 3 and #4 locations have been delayed due to seasonal rains. Negotiations are under way to market Argyle gas to the electric power utility CS Energy. Icon’s interest in ATP 620P is 12.5% in this initial development. Argyle # 1 and #2 have been completed for production and are currently suspended following successful testing.

Icon is carried under a farmout agreement with Queensland Gas Company Ltd through a further 6 wells in ATP 610P, 648P and 632P.

Fore more information on Icon, click here.

QUEENSLAND GAS COMPANY (21 FEBRUARY 2001)

The Directors of Queensland Gas Company Limited (QGC) announce that Argyle No. 5, the second appraisal well of the Argyle coalbed methane field, spudded on 8th February 2001 and at 0800 hrs today was at a total depth of 391 metres and undergoing testing (updated with operation at 0800 hrs).

Drill stem testing of individual coal seams during the drilling indicates all target seams have good permeability and high gas saturation. This has been confirmed at total depth by a flow test of 1200 barrels per day of water and 31000 cubic feet per day of gas. Such a strong flow of gas and water is an excellent early result when compared with typical CBM wells in the Powder River Basin of the United States which initially flow only water with little or no free gas but become prolific gas producers as the seams are dewatered.

The Directors of QGC believe that Argyle No. 5 will be a very significant producer of CBM and it is intended that the well will be completed and dewatering operations commenced immediately.

Argyle No. 5 is located within ATP 620P and approximately 1.2 kilometres south of the successful QGC Argyle No. 2 exploration well and 25 kilometres south of the township of Chinchilla. The Argyle No. 3 and No. 4 sites were inaccessible owing to heavy rain and will be drilled after completion of the No. 5 well.

FOR MORE INFORMATION, CLICK HERE.

BLIGH OIL & MINERALS (21 FEBRUARY 2001)

The Rimu-A2 has been drilled to a total depth of 4696 metres. The basement thrust block was thicker than anticipated at this location, and consequently the lower Tariki Sandstone was not encountered. Testing of the Upper Tariki Sandstone zone will be carried out once wireline logging operations have been completed.

DIORO EXPLORATION (21 FEBRUARY 2001)

Further encouraging results from the ongoing drilling program at the Mungari East project being conducted by Mines and Resources Australia Pty Ltd on behalf of the joint venture.

INTERSECTION HIGHLIGHTS

Diamond Drilling at north end of Frog's Leg:

• 23 metres @ 9.72 g/t from 121 metres downhole depth (inc 10m @ 16.95 g/t)
• 8 metres @ 8.68 g/t from 224 metres downhole depth
• 3 metres @ 15.19 g/t from 256 metres downhole depth

Final results from re-sampling of RC holes at south end of Frog's Leg:

• 16 metres @ 13.24 g/t from 96 metres downhole depth (inc 8m @ 24.82 g/t)
• 6 metres @ 13.05 g/t from 80 metres downhole depth (inc 1m @ 73.32 g/t)

New Composite assay results from infill RC holes at various locations at Frog's Leg:

• 12 metres @ 9.78 g/t from 28 metres downhole depth
• 40 metres @ 3.20 g/t from 24 metres downhole depth

IVANHOE MINES (21 FEBRUARY 2001)

IVANHOE'S EXPLORATION TEAM DISCOVERS A HIGH-GRADE MINERALIZED GOLD SYSTEM IN MYANMAR
Recent work by Ivanhoe's exploration team has discovered a promising new gold-bearing vein system in a concession located in central Myanmar, approximately 100 kilometres north of the capital city of Yangon. The project is accessible by road and is 10 kilometres from a major highway. For competitive reasons, the exact location is not being disclosed at this time. To date, exploration has focused on driving adits, trenching and channel sampling on a number of quartz veins in the prospect area. Throughout the prospect area, measuring three kilometres by two kilometres, visible gold occurs in persistent quartz veins, which outcrop over a 400-metre vertical interval.

SOUTH KOREA: EXPLORATION RESULTS REVEAL AN IMPORTANT NEW MINERALIZED GOLD/SILVER DISTRICT
A four-year program of systematic evaluation of mineralized prospects by Ivanhoe Mines' geologists has led to the grassroots discovery of two significant, epithermal gold-silver vein systems in South Korea. Both projects are located in the southwest coastal region. For competitive reasons, the company is not disclosing the specific locations at this time. Ivanhoe has secured all necessary mining and surface rights to both discovery areas.

MAJESTIC RESOURCES (21 FEBRUARY 2001)

Perth diamond producer Majestic Resources NL plans to give the green light in May to its third South African mine after buying a highly prospective new resource near Kimberley.
The Orange River Project, in the richest alluvial diamond province in the world, has been described by Majestic's Exploration Director, Manfred Marx, as containing the best alluvial gravel resource he has seen in the district after completing an extensive drilling program over the past three months.
Orange River, on the Elsiesdrift Farm, is less than 10 kilometres from the world's biggest alluvial diamond miner, Trans Hex's, Saxendrift Diamond Mine, from which a diamond of 213 carats was recovered late last year.
A 210 carat diamond was also found about three months ago from the Beatrice Mine, adjacent to the Orange River property, which sold for a reported $5 million.

SANTOS (21 FEBRUARY 2001)

The Santos Group, as Operator for PEP 154 announces the discovery of a new gas field in the Victorian section of the Otway Basin.
The exploration wildcat well McIntee 1 has intersected a 16.5m net gas column in the Cretaceous Waarre Sandstone over the interval 1539.5m to 1556m.
The McIntee 1 well is located 10km West-northwest of the Mylor 1 gas well and 14km west-northwest of the Heytesbury Gas Facility.
McIntee 1 reached a total depth of 1803m and is being further evaluated by wireline logs.

The proximity of the discovery to the recently constructed Heytesbury Gas Facility will allow early connection and sale of the discovery. Currently Mylor 1 and Fenton Creek 1 are on production through the Heytesbury facility.
McIntee 1 is the first well of a four well program in PEP's 153 and 154.

SUN RESOURCES (21 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0600 hours WST, 20 February 2001, is still at 2,140 metres (7,020 feet).
A testing proposal has been put to the joint venture by the operator of a test of a potentially gas bearing zone of thinly bedded sands over the interval 1,402 to 4,112 metres (4,600 to 4,630 feet). A decision by all participants will be made this morning on proceeding with this operation or drilling ahead to a depth of 2,239 to 2,950 metres (8,000 to 8,500 feet) before reviewing the situation. Current biostratigraphic information from the well indicates that the thicker quality reservoir sandstone units within and at the base of the Tunanui Formation have yet to be encountered.

WEST OIL (21 FEBRUARY 2001)

West Oil advises that at 6:00am CST the Puffin-6 appraisal well was at 1,596 metres and drilling ahead.
Puffin-6 is an appraisal well which will test the southwest culmination of the Puffin Oilfield which has the potential for recoverable reserves of 55 million barrels. The well is 3.5 kilometres southwest of Puffin-5 which intersected a 9.4 metre oil column in the Lower Kla Sand in June 2000.

WOODSIDE PETROLEUM (21 FEBRUARY 2001)

Woodside Petroleum Ltd, Operator of the WA-269-P Joint Venture, reports that the Atlas-1 exploration well located in the Carnarvon Basin was spudded at 0400 hours WST on 20 February 2001. At 0600 hours WST an 20 February the operation was jetting the 30 inch conductor.
The Marine 500 drill rig is drilling the well. The location is approximately 240 kilometres northwest of Karratha. Water depth at the location is 1395 metres. Planned total depth is 4243 metres.

MOUNT BURGESS MINING (20 FEBRUARY 2001)

Tsumkwe Diamond Project-Namibia/Share Buy-Back

TSUMKWE DIAMOND PROJECT, NAMIBIA

This is to inform you that the Company has recommenced exploration at its Tsumkwe Diamond Project in Namibia.

As a consequence of the interpretation of data acquired from drilling and loam sampling during the previous field season, three discretekimberlitic garnet anomalies have now been delineated.

The area containing two of the garnet anomalies, the Nyae Nyae and Khabi anomalies, has undergone a detailed assessment by Mackay & Schnellmann Pty Ltd, an independent firm of consulting diamond geologists. Mackay & Schnellmann's assessment of all available data concludes that there is a likely kimberlitic source within close proximity to the Nyae Nyae and Khabi anomalies.

As a result of this study, 18 potential kimberlite targets have been identified for drilling.

These targets together with a number of other targets throughout the project area will be drill tested commencing the 26th of February 2001. Field operations in preparation for this drilling which include ground magnetics and electro-magnetics have now commenced.

SHARE BUY-BACK

The Company has to a large degree achieved its objective to reduce its issued share capital through an on market share buy-back. The issued share capital has been reduced by 9,066,135 from 110,566,135 on issue prior to the commencement of the buy-back to 101,500,000 as it now stands. Consequently the Company has resolved to terminate the buy-back.

For more information, click here.

OIL SEARCH (20 FEBRUARY 2001)

Oil Search Limited is pleased to announce that the Production Licence, PDL5, covering the portion of the Moran Central oil field that lies in exploration licence PPL 138, was awarded on Saturday 17 February. This now allows full development of this part of the Moran Central field, with construction of roads and facilities to start immediately.

PANCONTINENTAL OIL & GAS (20 FEBRUARY 2001)

The Waitaria 2 exploration well was drilled to a depth of 2134 metres in the Mid Miocene age Tunanui Formation. A suite of electric logs was run over the open-hole section from total depth to the casing shoe at 1351 metres. The well was subsequently deepened to 2140 metres.
A number of zones of interest have been identified by the petrophysical analysis of the electric log data. There interpretations are now being reviewed by the Joint Venture in order to formulate a strategy involving the testing of these zones and whether to deepen the well to the earlier indicated depth of 2590 metres.
For the interval 1903 to 2140 metres, drilled since the last report, down-hole rutting samples and drilling penetration rates have indicated that no significant porous sandstone reservoir beds were encountered.
While drilling down to 2134 metres, background gas levels have ranged up to 0.25%, with chromatograph readings of methane, C(1) (1618ppm), ethane, C(2) (139ppm), propane, C(3) (91pm). Mud weight has been maintained at 15.5ppg. The synthetic based mud system is masking fluorescence, and none has been noted.

PILBARA MINES (20 FEBRUARY 2001)

Inmet Mining Corporation (Inmet), who are in joint venture with Pilbara at the Teutonic Bore base metal project in Western Australia, have notified Pilbara of their intention to commence a DeepEM regional geophysical survey at Teutonic Bore during February 2001.
This survey follows on from the successful completion of two orientation surveys during December 2000, in which the effectiveness of the Crone system in penetrating deep weathering and thick conductive cover in the Teutonic Bore area was confirmed. The surveys delivered quality data with a late time short wavelength conductor detected.

ROC OIL COMPANY (20 FEBRUARY 2001)

2001 Drilling Program Commences
The commencement of an appraisal well in the Chestnut Field in the UK North Sea and recommencement of drilling activity at the Eskdale-13 appraisal well location, onshore UK, mark the start of ROC's 2001 drilling program.
ROC expects to have interest in a total of 10 wells to be drilled during 2001 of which 5 will be exploration wells

SUN RESOURCES (20 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin), North island of New Zealand, at 0600 hours WST 19 February 2001, was at 2,140 metres (7,020 feet).
A decision was made at the weekend to run electric logs and side wall cores before drilling onto revised total depth of 2,950 metres (8,500 feet). These logs are currently being evaluated by the joint venture partners to decide on a test of two zones of thin bedded sands at 1,406 to 1409 metres (4,614 to 4624 feet) and 1,887 to 1,893 metres (6,190 to 6,210 feet).
Current biostratigraphic information from the well indicates that the thick quality reservoir sandstone units within and at the base of the Tunanui Formation have yet to be encountered.

TAP OIL (20 FEBRUARY 2001)

Gibson-1 exploration well spudded at 14:00 hours on 16th February 2001.

LOCATION
The well is located 2 kilometres to the south west of the Simpson-1 oil discovery well and, 2.5 kilometres to the south of the Varanus Island production facilities, in exploration permit TL/6 at latitude 20deg41'57.88"S and longitude 115deg33'57.41"E.

PROGRESS
As at 6.00am today, the well has drilled ahead to 552 metres measured depth and will continue to drill ahead to the planned total depth of 2,428 metres Measured depth. It is expected to take 7 days to reach its projected total depth of 2,428 metres measured depth.

WEST OIL (20 FEBRUARY 2001)

Following delays associated with cyclone "Vincent", operational problems were experienced with setting BOP's. Current operations are drilling out cement. The drilling plan then calls for conducting a leak off test before drilling ahead.
The primary objective KlA Sandatone reservoir is prognosed below 2000m and will not be intersected until about Friday 23rd February 2001.

PAN AUSTRALIAN RESOURCES (17 FEBRUARY 2001)

Due Diligence period extended for Call Option Agreement with Normandy Anglo

QUEENSLAND GAS COMPANY (17 FEBRUARY 2001)

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that the company’s eighth well, Ridgewood No. 1 spudded at 1000 hours on Wednesday 14 February 2001.

The well is located approximately 23 kilometres east of the township of Tara in the Surat Basin in Queensland, and approximately 65 kilometres southeast of QGC’s Argyle field.

Ridgewood No. 1 is programmed to a total depth of approximately 620 metres and is located within Authority to Prospect for Petroleum (ATP) No. 621P. The well will test the coal seams of the upper Walloon Coal Measures, at a substantially greater depth than in any previous QGC well. The greater depth has the potential to produce greater gas flow rates and reserves from this area.

This well is the first of a two well program to earn QGC a 50% interest in the Walloon Coal Measures in ATP 621P. At 1700 hours on 15 February 2001 the well had set surface conductor pipe at 31.6 metres and was preparing to drill 81/2" hole.

FOR MORE INFORMATION, CLICK HERE.

ADMIRALTY RESOURCES (17 FEBRUARY 2001)

Admiralty, through its subsidiary Argentina Diamonds Limited, has completed its due diligence on the Rincon Salar project. Following completion of the due diligence the company has exercised its option to acquire the tenements forming the Rincon Salar project.
As part of the due diligence process the company carried out saline crust sampling of the area, the results of which have confirmed the mineral composition previously obtained by the joint United Nations and Salta Mines Department taskforce who carried out an extensive drilling, sampling and geochemical study.
The project comprises 53 mining tenements covering 410 square kilometers located in northwest Argentina.
The Rincon Salar contains a major resource of magnesium, potash, borate and a world-class deposit of lithium and caesiummn-rubidium.

ALCASTON MINING (17 FEBRUARY 2001)

Alcaston has entered into a joint venture with Geotech International Pty Ltd in respect of the Mummering Spring platinum/palladium prospect situated approximately 150 kilometres north-east of the port city of Geraldton in Western Australia.
Geotech has applied for an exploration licence (E70/2424) of approximately 55 square kilometres at Mummering Spring to cover an area prospective for Platinum Group Metals in layered mafic complexes.
Regional sampling by the Geological Survey of Western Australia has outlined a highly anomalous area with sample results consistent with a mineralised ultramafic source.
Alcaston can earn a 90% interest in the licence by the reimbursement of past expenditure to Geotech and ongoing exploration. Geotech will retain a 10% free carried interest up to the point where a decision to mine is made following a feasibility study.
An infill sampling program is proposed to more fully investigate this highly anomalous result.

AURORA GOLD (17 FEBRUARY 2001)

As previously reported, political and social uncertainties in Indonesia caused plans to construct the proposed 1.5 million tonnes per annum Toka Tindung Project in North Sulawesi to be suspended, with the project placed on care and maintenance in September 1999.
The political and social uncertainties continued during 2000 and illegal mining activity has become firmly entrenched at the Company's satellite Talawaan prospect with widespread and uncontrolled use and discharge of mercury.
In view of this continuing uncertainty, and the failure by central and regional authorities to address the illegal mining situation, the Company has decided to divest its interest in the Project to minimise holding costs and to enable it to focus on its other interests.
Accordingly, the Company announces that it is offering for sale or joint venture all of its 85% shareholding in the PT Meares Soputan Mining and PT Tambang Tondano Nusajaya Contracts of Work, which comprise the Toka Tindung Project.
Expressions of interest will be reviewed during the next three months.

AUSTRALIAN MINING INVESTMENTS (17 FEBRUARY 2001)

Australian Mining Investments Limited (AMI) advises that it has signed a Memorandum of Understanding concerning the acquisition of an interest in an oil bearing property in Kazakhstan.
The MOU sets a purchase price of US$1.5 million for a 51% interest in the oil field located in the Mangistau Province 175 km north of the provincial capital and seaport Aktau.
The reported reserves of the deposit are:

In place 65.97 Million barrels
Recoverable 19.79 Million barrels
A test production well on the site is being pumped at 100 to 110 barrels per day.

IVANHOE MINES (17 FEBRUARY 2001)

Ivanhoe Mines Ltd's Chairman, Robert Friedland, and Senior Vice-President of Exploration, Douglas Kirwin, announced today that the company's 2000 exploration program at the Turquoise Hill (Oyu Tolgoi) project in Mongolia has substantially expanded a large, copper-gold porphyry system previously discovered by BHP Minerals.
Based on a preliminary extrapolation of drill results, Ivanhoe estimates that the porphyry system now has the potential to host up to 750 million tonnes of copper and gold mineralization.

LONGREACH GOLD OIL (17 FEBRUARY 2001)

Longreach advised that is has entered into a conditional option agreement with a UK-based company in respect of onshore and offshore oil concessions in Somaliland.
The concessions, comprising 7,000,000 acres, will be subject to Production Sharing Agreements being concluded.
Provided the due diligence studies prove to be satisfactory, Longreach will be able to acquire a 25% interest in the Production Sharing Agreements.
Plans are in hand to drill two onshore wells by mid-year.

SUN RESOURCES (17 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0100 hours EST 16 February 2001, was at 1,997 metres (6,551 feet). Current operations is drilling ahead to revised target zone of interest and new total depth of 2,590 metres (8,500) feet.
Current biostratigraphic information from the well indicates that the thick quality reservoir sandstone units within the Tunanui Formation have yet to be encountered. To date non reservoir units have been intersected. Based on information to date the Tikiwhata Sand Member should be encountered by 2,000 metres (6,600 feet) and eventually older Clifdenian-Altonian age base Tunanui or Rere Sanstones.

TAP OIL (17 FEBRUARY 2001)

The South Plato-1 exploration well spudded at 20:00 hours on 14 February 2001.

WEST OIL (17 FEBRUARY 2001)

Puffin-6 Appraisal Well - West Oil advises that delays have been experienced due to weather conditions associated with cyclone "Vincent". With the cyclone having moved onshore the swell and winds are decreasing. It is expected that operations will recommence within the next 24 hours when the blow out preventer will be installed. Once the BOP is set drilling operations will continue according to the drilling plan when the Upper Objective Oliver Sandstones will be encountered.

QUEENSLAND GAS COMPANY (16 FEBRUARY 2001)

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that the exploration well, Trafalgar No. 1 was completed yesterday as a potential coalbed methane producer. Trafalgar No 1 intersected 19.6 metres within the four upper seams of the Walloon Coal Measures.

Testing of the well during drilling produced gas at a rate of 20 000 cubic feet per day (570 cubic metres per day) and water production measured at 360 barrels per day. These results are typical of the initial flows from wells drilled in the Powder River Basin in the USA. After dewatering, these wells produce significant gas flow rates.

Trafalgar No 1 again demonstrated that the coals of the Walloon Coal Measures are gas saturated and the 360 barrels of water production indicates that the coals have good permeability. Gas saturation and good permeability are the essential criteria for successful coalbed methane production.

The well is now shut in awaiting equipment to be set up for production testing.

This is the first well of a two well farmin agreement which will earn QGC a 60% interest in the Walloon Coal Measures in the area of Petroleum Lease application (PLA) 171.

FOR MORE INFORMATION, CLICK HERE.

EAST COAST MINERALS (16 FEBRUARY 2001)

EAST COAST MINERALS NL, the holder of a 70% interest in a Joint Venture Agreement with Legend Mining Limited (30%) relating to the Munni Munni mining tenements advises:

• It has sought legal advice to the effort that it has entered into no binding agreement to dispose of its 60% holding in the Munni Munni tenements to Legend or any other party, despite a statement to the contrary by Legend;
• It proposes to continue with a drilling program as previously announced on 30th January 2001 in order to explore the platinum, platinoid, silver and copper nickel potential of the tenements; and
• It has instructed its lawyers to prepare a response to Legend's public announcement, which was made without its prior knowledge or consent, and to enforce the provisions of its Joint Venture Agreement.

LEGEND MINING (16 FEBRUARY 2001)

Legend Mining Limited ("Legend") wishes to clarify the sequence of events that has led to its acquisition of a further 60% of the Munni Munni Mining Leases from its joint venture partner East Coast Minerals NL ("ECM") on 13th February 2001 in response to ECM's trading halt in its securities yesterday.

1. ECM received an offer to acquire 60% of the Munni Munni Mining Leases from Greater Pacific Gold limited ("GPGL") on 15th January 2001 on the terms and conditions contained in the offer.

2. ECM then forwarded the offer to Legend by letter dated 16th January 2001, stating inter alia that ECM intended to accept GPGL's offer and that ECM was invoking clause 23 of the Joint Venture Agreement between ECM and Legend whereby Legend had 30 days within which to accept the offer instead of ECM.

3. Legend by Notice of Acceptance dated 13th February 2001 accepted the offer and thus contracted to acquire a further 60% of the Munni Munni Mining Leases from ECM ("the Contract"), and paid the agreed deposit of $25,000 to ECM.

4. Legend has now lodged a caveat against the mining leases protecting its interest under the Contract, on 14th February 2001.

5. ECM by its chairman, has advised Legend, without any explanation, in the afternoon of 14th February 2001 that ECM has deposited $25,000 (equivalent to the deposit paid under the Contract) into the bank account of Legend today.

6. Legend has received legal advice that the Contract with ECM is binding and Legend will hold ECM to the Contract.

OIL COMPANY OF AUSTRALIA (16 FEBRUARY 2001)

Roche No.01 a coal bed methane exploration well situated approximately 4.0 kilometres south-east of Roma No.01, latitude 26 deg, 01 min 07.82 sec south, longitude 150 deg 00 min, 47.78 sec, east, was spudded at 15:30 hours on February 03,2001. Surface casing was set at 130 metres GL. A total depth of 213 metres GL was reached at 12:30 hours, February 8, 2001. The well was plugged and abandoned at 15:00 hours, February 11, 2001. The rig operated only during daylight hours. Progress for the week was 24.00 metres.
The well is the subject of Farmin arrangements with Queensland Gas Company Limited.

SUN RESOURCES (16 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0700 hours WST 15 February 2001, was at 1,834 metres (6,016 feet). Current operations is drilling ahead to revised target zone of interest and new total depth of 2,590 metres (8,500) feet.
Current biostratigraphic information from the well indicates that the thick quality reservoir sandstone units within the Tunanui Formation have yet to be encountered. To date non reservoir units have been intersected. Based on information to date the Tikiwhata Sand Member should be encountered in the next 200 metres (650 feet) and eventually older Clifdenian-Altonian age base Tunanui or Rere Sanstones.

WEST OIL (16 FEBRUARY 2001)

Progress Report - Puffin-6 Appraisal Well
Delays have been experienced due to weather conditions associated with cyclone, "Vincent". While the cyclone is not expected to come close to Puffin-6, the swell resulting from associated winds means that operations could not continue with guaranteed safety. Once the winds ease, the blow out preventer will be installed and drilling operations will continue according to the drilling plan when the Upper Objective Oliver Sandstones will be encountered.

WOODSIDE PETROLEUM (16 FEBRUARY 2001)

At 0600 hours WST on 14 February the Audacious-1 exploration well located in the Vulcan Sub-Basin in the Timor Sea was being plugged and abandoned. The well is a significant flank test of the Audacious structure, located more than 50m down-dip from the mapped crest. Excellent reservoir quality was proven by logging and production testing, and early data suggest a continuous light oil column to be present. The AC/P17 joint venture partners now plan to fully assimilate the well results and investigate all viable development options before embarking on an appraisal programme.

Woodside Energy Ltd, on behalf of the North West Shelf Joint Venture, advises that production from the Goodwyn A platform has been temporarily shut down due to an electrical fault.

AKD (15 FEBRUARY 2001)

AKD has added to its diamond portfolio at Seppelt Range in the North Kimberley region of Western Australia with the exercise of an option to acquire 100% of 4 exploration licences located close to Striker's Ashmore pipe discoveries. The new tenements compliment AKD's existing land holdings at Seppelt Range which comprise 3 exploration licences located near the Seppelt pipes.

ALCASTON MINING (15 FEBRUARY 2001)

Alcaston Mining NL has applied for an additional exploration licence (E08/1233) of 240 square kilometres adjoining its Minilya diamond exploration project in the Giralia Range region of Western Australia, near Exmouth Gulf.
This licence, together with other applications in the area, has increased the Company's total land holding to 720 square kilometres.
The licence is bounded in the south by Asarco who are reportedly exploring for high grade silver.
This additional area forms part of the Minilya Diamond Project which is a joint venture with Geotech International Pty Ltd in the ratio 90/10% with Geotech having a free carried 10% interest up to the feasibility study stage.

KIMBERLEY DIAMOND COMPANY (15 FEBRUARY 2001)

Kimberley Diamond Company NL has had its first opportunity to test its view that the diamondiferous pipes in the Ellendale Mining Area have a near surface zone of diamond enrichment grading considerably higher than the average diamond grades attributed to the pipe (lamproitic) material. Recent testing of 6 pits in the Ellendale Pipes 4 and 9 by Kimberley to a maximum depth of 2.6 metres has so far resulted in the recovery of 653 diamonds weighing 106.21 carats from a total tonnage of 415 tonnes excavated. Approximately 80 percent of the diamonds recovered are of gem quality. These diamonds have not been valued however a recent valuation of Ellendale Pipe 4 diamonds commissioned by Kimberley yielded an indicative average value of US$75.92. The corresponding value for Ellendale Pipe 9 diamonds was US$170.37.
The largest diamond recovered weighed 4.11 carats with 11 other stones weighing in excess of 1 carat. The indicated grades of samples from Pit E4-K1 and Pit E4-K2 (both Pipe 4) were 53.3 carats per hundred tonnes (cpht) and 53.4 cpht respectively. Pipe 4 has a surface area of approximately 78 hectares.

MAGNETIC MINERALS (15 FEBRUARY 2001)

• Magnetic has acquired an 80% interest in the former BHP Minerals Mindarra Springs Project, 95km north of Perth.
• A Resource Estimate by BHP is 1.2 billion tonnes at 1.9% heavy minerals at 1.5% cut-off.
• Application of the Company's proven magnetic mapping technique may delineate higher grade resources.

Magnetic Minerals has acquired an 80% interest in the Mindarra Springs Project, located 95km north of Perth on the Dandaragan Plateau, north-east of the Gingin township. Infrastructure in the district is excellent, located close to main roads, rail and power.

Exploration activity by BHP Minerals ("BHP") in the early 1990's discovered a major new heavy mineral sand field east of the Gingin Scarp where they outlined three very large but low-grade heavy mineral sand deposits; Mindarra South, Mindarra North and McCalls. BHP held these areas under retention license until 1999. The Indicated Resource estimated by BHP is 1.2 billion tonnes at 1.9% heavy minerals (HM) at 1.5% cut-off. This estimate is based on air-core drilling on a very wide drill spacing of 400 to 500 metres on drill lines and 500 metre to 2,000 metre spacing between drill lines. BHP studies of mineralogy indicate a mineral assemblage of 60% ilmenite (60.2% TiO(2), 5% zircon, 1% rutile and 1% monazite. The TiO(2) content of the ilmenite is amenable for synthetic rutile upgrading or chloride route processing.

MT GRACE RESOURCES (15 FEBRUARY 2001)

The contract for the Environmental Impact Statement (EIS) on the Batchelor Magnesium Project has been awarded to URS Australia Pty Ltd (formerly trading as Dames & Moore). The award follows evaluation of several proposals for the work.

Mt Grace considers that this is an important step in advancing the Batchelor Project and the timing is consistent with our stated objective of completion of a bankable Feasibility Study by the end of 2001 to facilitate the commencement of commercial production in early 2003.

PILBARA MINES (15 FEBRUARY 2001)

Pilbara announced the commencement of a 23,000 metre rotary air blast exploration drilling programme on Pilbara's tenements to the south of the Teutonic Bore mine, 40 km north of Leonora, in the Eastern Goldfields region of WA. This programme targets gold mineralisation and follows on from previous exploration drilling by Pilbara during 2000.

RED BACK MINING (15 FEBRUARY 2001)

Red Back Mining announced a drilling program to test a nickel sulphide target at the Company's 100% owned Irwin Hills nickel project in Western Australia.
The target comprises a coincident ground geophysical transient electromagnetic ("TEM") and Induced Polarisation ("IP") anomaly which corresponds to anomalous near surface nickel, copper and platinum-palladium geochemistry. The geophysical anomalies have been interpreted by Red Back's geophysical consultant to be comparable to those developed over massive nickel sulphide deposits. An initial 600m drilling program to test the target is scheduled to commence early next week.

SUN RESOURCES (15 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0600 hours WST 14 February 2001, was at 1,638 metres (5,375 feet). Current operations is drilling ahead in 8 1/2" hole to target zone of interest.

WEST OIL (15 FEBRUARY 2001)

At 6:00am CST the Puffin-6 appraisal well was at 948 metres and 13 3/8" casing has been set and cemented. It is prognosed that drilling will recommence in approximately 24 hours when the Upper Objective Oliver Sandstones will be encountered.

QUEENSLAND GAS COMPANY (14 FEBRUARY 2001)

The Directors of Queensland Gas Company Limited (QGC) are pleased to announce that Queensland Gas Company Limited (ACN 089 642 553) as operator of Authority to Prospect 620P, for and on behalf of the holder of the authority to prospect, has applied to the Minister for Mines and Energy for two Petroleum Leases to be granted in respect of all the lands of Authority to Prospect 620P.

The application was lodged this afternoon, Tuesday 13 February 2001.

The Petroleum Leases has been applied for in the following interests:

Pangaea Oil and Gas Pty Ltd (ACN 068 812 171)	-	37.5%
Icon Oil NL (ACN 058 454 569)	-	12.5%
Queensland Gas Company Limited (ACN 089 642 553)	-	50.0%

As a result of information obtained from the drilling of Argyle No. 1 and Argyle No. 2 and the analysis of data from previous petroleum and coal exploration and water bores, QGC believes that commercial volumes of Coal Bed Methane (CBM) are present and provide grounds for the granting of a Petroleum Lease.

Significant points regarding the ability of Walloon Coal Measures to contain and produce payable deposits of Coal Bed Methane over the entire area of ATP 620P are highlighted below:

• Xyloleum No. 1 approximately 5 kilometres to the north west of Argyle No 1 flowed gas at 420 000 cubic feet per day from the Walloon Coal Measures at 200 metres.
• Argyle No. 1 flowed gas at over 1 million cubic feet per day from the coal seams from 244 to 251 metres in the Walloon Coal Measures and produced water at over 500 barrels per day from the seams completed from 220 to 294 metres. Total coal intersected in the upper measures was 14.9 metres.
• Argyle No. 2 flowed gas at 350 000 cubic feet per day from the coals intersected from 257 to 303 metres (total coal of 6.9 metres). A total of 13.9 metres of coal was encountered in the well with over 200 000 cubic feet per day of gas being recorded from the uppermost seams.

The second appraisal well, Argyle No. 5, is ready to drill into the primary target seams tomorrow.

The Petroleum Leases will enable the early development and production of Coal Bed Methane from this area.

FOR MORE INFORMATION, CLICK HERE.

BLIGH OIL & MINERALS (14 FEBRUARY 2001)

The Rimu-A2 is currently drilling ahead in 6" hole at a depth of 4413 metres.
The well is being 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.
Preparations continue for a long term production test of the Rimu Limestone interval in the Rimu-B2 well, with 4 1/2" liner set at 3516.9m.

FIRST AUSTRALIAN RESOURCES (14 FEBRUARY 2001)

The Nabors 409 land rig is on location at Clear Branch and is presently rigging up. Sixty feet of 16 inch conductor pipe and cellar have been installed. Drilling is expected to commence tomorrow. The well has been renamed Tolar No 1 (formerly Willamette No 2 well). Planned total depth of approximately 10,000 feet should be reached within 30 days of spud.

The Tolar No 1 is planned as a straight hole test of the Blue and Yellow Hosston sands at a location approximately 2,400 feet to the north of the Terry Ewing No 1 producing gas well. Both sands are prolific gas producers within the field. The well will be drilled under-balanced and has been engineered with special mud and cement systems based on formation characteristics measured while drilling the Terry Ewing No 1 well.

LEGEND MINING (14 FEBRUARY 2001)

Legend has entered into a contract to gain control of a further 60% of the Munni Munni palladium, platinum and silver joint venture ground. Currently Legend has 30% and will acquire the further 60% from East Coast Minerals NL (ECM) at the end of the earning period leaving ECM with 10%.
Legend has paid ECM $25,000 deposit and a balance of $975,000 is payable over one and a half years subject to a 60 day due diligence period followed by a formal Joint Venture and Farmin Agreement with ECM.
Legend will earn the additional 60% interest by spending a further $4.5m on exploration for palladium, platinum, silver and gold over a 3 year period.

LONGREACH GOLD OIL (14 FEBRUARY 2001)

Longreach Gold Oil Limited advises that it has entered into a Memorandum of Understanding (MOU) with ITOK IRAN of Tehran, with the objectives of obtaining suitable oil/gas projects in Iran.
ITOK IRAN is the leading mineral resources consulting company in the Islamic Republic of Iran.

NEW HAMPTON GOLDFIELDS (14 FEBRUARY 2001)

SUMMARY

• Joint study increases Mineral Resources at Jubilee Pit to 460,000 ounces
• Strong exploration results from 1600N, south of Big Bell

JUBILEE - JOINT STUDY
The Jubilee Pit 100% owned by New Hampton Goldfields Limited is adjacent to the Jubilee mill, south of Kalgoorlie, and adjoins the Hampton-Boulder Pit owned by Newcrest Mining Limited. A joint study by New Hampton with Newcrest Mining Limited of the Jubilee and Hampton-Boulder mineral resources was recently completed. For Jubilee only, the study identified a Mineral Resource of 7.23 million tonnes at 2.0 grams per tonne (g/t) of gold (0.75g/t cut-off) for 460,000 ounces. The mineralisation remains open at depth.
Australian Mining Consultants Pty Ltd (AMC) have been engaged to undertake an immediate mining study into the possibility of a big pit cut-back for Jubilee only. The study is anticipated to be completed by the end of February 2001.

BIG BELL - EXPLORATION RESULTS AT 1600N
The ongoing drilling programme at 1600N, 1.5 kilometres south of Big Bell has generated strong results in two recently completed diamond holes.
Drill hole, BBDD23, tested the main 1600N shoot and gave a very encouraging intersection of 13 metres at 5.5 g/t gold at the target depth of 409 metres, plus a lower zone of 23 metres at 1.6 g/t gold. This intersection extends the depth of the mineralised system to 400 metres below surface and suggests that the system is strengthening at depth .
The previous mineral resource estimate for the, main ore shoot at 1600N was 159,000 ounces of gold to a depth of 360 metres below the surface. The new intersection is expected to substantially increase those resources and gives encouragement for the concept of underground mining. The Big Bell underground workings are 1,500 metres north of the BBDD23 intersection at this depth.
Drill hole BBDD24, on section 1450 North, 225 metres south of BBDD23 gave an intersection of 14 metres at 4.0 g/t gold at a vertical depth of 150 metres below surface. This drill hole is approximately 120 metres from the southern margin of the main mineralised shoot and is interpreted to have identified a new blind ore shoot in this part of the Big Bell ore system (see attached long section).
Further drilling is required to better define the significance of this new mineralisation, and the impact that it will make on mineral resources and ore, reserves.

OXIANA RESOURCES (14 FEBRUARY 2001)

SEPON PROJECT - 80% OXIANA RESOURCES, 20% RIO TINTO BANKABLE FEASIBILITY STUDY DRILLING UPDATE
Assays received for an additional 35 holes from colluvial zone in the Discovery gold resource continue to confirm the high grade near surface nature of all five gold deposits at Sepon.
Significant thicknesses of high grade oxide/partial oxide mineralisation were intersected from surface over 600 metres of strike. This zone remains open to the south.

SUN RESOURCES (14 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0600 hours WST 9 February 2001, was at 1,353 metres (4,437 feet). Current operation is resuming drilling operations in 8(1/2)" hole to target zone of interest below the regional seal after drilling out of shoe track and advancing only 1 metre (3 feet) followed by a bit trip. Background gas has picked up noticeably (0.4 to 0.5%) with the occasional presence of C4.

WEST OIL (14 FEBRUARY 2001)

At 6:00am CST 13 February, the Puffin-6 appraisal well was at 948 metres and setting 13 (3/8)" casing. It is prognosed that drilling will recommence on Wednesday night 14th February when the Upper Objective Oliver Sandstones will be encountered.
Puffin-6 is an appraisal well which will test the southwest culmination of the Puffin Oilfield which has the potential for recoverable reserves of 55 million barrels. The well is 3.5 kilometres southwest of Puffin-5 which intersected a 9.4 metre oil column in the Lower K1 a Sand in June 2000.

AURIDIAM (13 FEBRUARY 2001)

JOINT VENTURE TO RESUME ACTIVITIES AT ELLENDALE

Auridiam Limited (60% interest) and Diamond Ventures NL (40%) are the owners of the Ellendale Project Joint Venture on exploration tenement EO4/813. On 19 October 1998 Kimberley Diamond Company NL acquired an option from Auridiam and Diamond Ventures to undertake exploration activity on the tenement and to purchase the tenement for an agreed amount.
Kimberley has now advised both owners that it will not be exercising the option and hence the Ellendale Project Joint Venture which was held in suspension during the option period will be restored to the position under the Joint Venture Agreement that existed as at 19 October 1998. Under the terms of the Joint Venture Agreement Diamond Ventures are able to increase their interest in the project to 51% by the expenditure of approximately $400,000. Auridiam then has the right to maintain a 49% interest in the project by contributing pro-rata with Diamond Ventures to the on-going exploration programme.
Diamond Ventures has advised its intent to proceed to earning a 51% interest in the Joint Venture with the immediate target being the palaeo-channel of diamondiferous Terrace 5 gravels that runs through EO4/813.
Excellent exploration results and diamond recoveries have been obtained from this tenement and from the area in which this tenement is located and the Ellendale region has become a focus of attention as a potential new diamond producing region.

BEACH PETROLEUM (13 FEBRUARY 2001)

Beach Petroleum NL has spudded its first wildcat gas exploration well in its renewed thrust in Victoria's onshore Otway Basin.
The well - McIntee-1 - is being undertaken by Beach in joint venture with Santos as operator.
It is part of a two-well program by Beach over the next month in an area east of Warrambool and close to where the Company made the first discovery of commercial gas in onshore Victoria more than 20 years ago.
McIntee-1 will be drilled in the Cretaceous-aged Waare Sandstone formation in PEP 154, 40 kilometres southeast of Warrnambool in an area neighbouring commercial producing gas fields around Port Campbell.
The well has a target depth of 1,600 metres.

NORWEST ENERGY (13 FEBRUARY 2001)

At 6am (Central Standard Time) Monday 12th February 2001 the Puffin 6 Appraisal well was at a depth of 651 metres and drilling ahead in 17-inch hole.
Puffin-6 will be drilled in permit AC/P22, 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.

PERSEVERANCE CORPORATION (13 FEBRUARY 2001)

Board Restructure:

• The appointment of Mr John Quinn, former managing director of Newcrest Mining Limited, as Chairman of the Company.
• The appointment of Dr Robin George, former Director - Exploration and Mining with Acacia Resources Limited, and Mr John Robinson, former Managing Director of Ashton Mining Limited, as non-executive Directors of the Company.
• The announcement of a 3 for 2 renounceable rights issue at 7 cents to raise $5.74 million before expenses.
• The rights issue is underwritten by Johnson Taylor Potter Corporate Finance Limited. The rights issue, has the full support of the Company's major shareholder, Waverley Mining Finance plc, who will take up all its rights and sub-underwrite an additional 10 million shares
• The proceeds of the rights issue will be primarily used to fund a deep drilling programme to assess the down-plunge continuity of the high grade sulphide mineralisation known to exist at Fosterville, and if warranted, complete a pre-feasibility study for a large, scale, long life mining operation.
• Drilling will initially target plunge extensions of the high grade 400-metre long shoot under Central North. Section 913ON is typical cross section at Central North. It has the following six true-thickness intersections, 7.5 Ag g/t over 1.5, 9.0 Au g/t over 9.9 metres, 11.1 Au g/t over 8.3 metres, 8.8 Au g/t over 7.4 metres, 11.0 Au g/t over 7.5 metres and 8.0 Au g/t over 4.7 metres. These intersections are over the known 100-metre height of the shoot.
• The depth potential of the multi-shear zone prospect at Fosterville is clearly demonstrated by one hole the Company drilled in 1995/96 that intersected the sulphide mineralisation at a depth below surface down to 450 metres.

SUN RESOURCES (13 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0600 hours WST 9 February 2001, was at 1,352 metres (4,434 feet). Last casing point was reached Saturday 10 February. Casing (9 (5/8)") has been run and cemented. Current operation is testing BOPs before resuming drilling operations in 8 (1/2)" hole to target zone of interest below the regional seal. Background gas has picked up noticeably (0.4 to 0.5%) with the occasional presence of C4.

WOODSIDE PETROLEUM (13 FEBRUARY 2001)

Woodside Petroleum Ltd, a Joint Venture partner in permit AC/P17, reports that at 0600 hours WST on 12 February the Audacious-1 exploration well located in the Vulcan Sub-Basin in the Timor Sea was rigging down test equipment. Earlier, during production testing operations, a flow rate of 9,100 barrels oil per day was achieved, from a 3 metre perforated interval. Gravity of the produced fluid is 55 degrees API. No water was produced during the test.

BEACH PETROLEUM (10 FEBRUARY 2001)

Sable-1 exploration well in ATP 541P, Cooper/Eromanga Basin, Queensland, reached a total depth of 2203m. The well did not encounter significant hydrocarbon shows and is currently being plugged and abandoned.

BHP (10 FEBRUARY 2001)

BHP announced approval of a US$138 million expansion of its Tintaya copper operations in Southern Peru.
The expansion will include a new solvent extraction electrowinning (SX/EW) facility that will initially produce 34,000 tonnes of copper in cathode per annum.
Construction of the project will commence immediately with first production expected in mid 2002. Copper production levels at Tintaya, currently around 90,000 tonnes per annum, will rise to a capacity of 124,000 tonnes per annum in 2002 and 130,000 tonnes per annum in 2004.

MINCOR RESOURCES (10 FEBRUARY 2001)

Reko Diq Project - Successful Completion of Drilling - Mincor has received the results of a further 15 holes, two of which are diamond core holes and the remainder RC percussion holes.
Ten of these holes proved to lie within the boundaries of the potential resource, as outlined using a cut-off grade of 0.7% copper over a minimum intersection of 4 metres down hole as well as visual estimates of the presence of supergene mineralisation. All the holes were drilled at an angle of 60 degrees from the horizontal.

SUN RESOURCES (10 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0700 hours WST 9 February 2001, is at 1,290 metres (4,232 feet). Current operations is a bit change before resuming drilling ahead in 12(1/4)" hole to next casing point 1,372 metres (4,500 feet) which lies above target zone of interest.

TAP OIL (10 FEBRUARY 2001)

Simpson-1 - Since the last report on 8 February 2001, a wireline logging programme has been conducted, pressure data gathered and fluid samples obtained.
This information has confirmed the existence of a 31.1 metre oil column with no gas cap. The oil is characterised as similar to existing Harriet light crude production at approximately 39 to 40 degrees API.
The reservoir is characterised as very good to excellent.

ANVIL MINING (9 FEBRUARY 2001)

Golden Star Resources Ltd and Anvil Mining NL announce the completion of the metallurgical testwork stage of the detailed study to determine the feasibility to mine and process the primary sulphide resource at Bogoso gold mine in Ghana.

The results of the metallurgical testwork were generally in accordance with, or better than expectation, and have had a beneficial impact on the anticipated processing costs. The final feasibility study is on schedule and is expected to be completed during the second quarter of 2001.

EMPIRE OIL & GAS (9 FEBRUARY 2001)

Empire, through its wholly owned subsidiary Rough Range Oil Pty Ltd, announced its plans to drill 2 to 3 prospects in the EP 41 (Part 3) Permit in the Exmouth Sub Basin commencing in April 2001.
Empire has identified 8 interpreted oil filled prospects from its recent High Resolution Magnetotelluric ("MT") Survey recorded in EP 41 (Part 3) as reported to the ASX an 1 February 2001 and 2 February 2001 and is to test the validity of those MT results by a 2 to 3 well drilling programme.
The Company is to prepare 3 drilling site locations and road works over prospects Tess, Jennifer and Brooke.

The first well planned to be drilled will be Tess No 1, a Birdrong Sandstone reservoir test with a total well depth of 1400 metres. The Tess Prospect is interpreted as a westerly tilted fault block with an estimated volume of Oil in Place of 10MMBO (million barrels of oil) with an indicated maximum oil column of 30 metres at the crest. The well is located 6 kilometres north east of the Rough Range Oilfield.
The Tess No 1 well is scheduled to take approximately 8 days and will be followed, dependent on results, by the Brooke or Jennifer Prospects.

HADDINGTON INTERNATIONAL RESOURCES (9 FEBRUARY 2001)

Haddington International Resources is pleased to announce that it has received Works Approval from the Western Australian Department of Environmental Protection for the construction of the process plant and associated infrastructure at its Bald Hill Tantalite Project.
Haddington has a Licence Agreement with Sons of Gwalia Limited for the development of the Bald Hill Tantalum deposit near Widgiemooltha and the Cattlin Creek Tantalum deposit, which is located at Ravensthorpe, in Western Australia.

OIL COMPANY OF AUSTRALIA (9 FEBRUARY 2001)

Roche No 01 a coal bed methane exploration well situated approximately 4.0 kilometres south-east of Roma No 01, latitude 26 deg 01 min 07.82 sec south, longitude 150 deg 00 min, 47.78 sec east, was spudded at 15:30 hours on February 03, 2001. Surface casing was set at 130 metres GL. At 06:00 hours today the rig was drilling ahead at 189.00 metres GL. The rig operates only during daylight hours. Progress for the week was 189.00 metres.
The primary targets of the well were the coals of the Taroom coal measures.

SUN RESOURCES (9 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0600 hours 8 February 2000, is at 1,103 metres (3,619 feet). Current operations is a bit change before resuming drilling ahead in 12(1/4)" hole to next casing point 1,372 metres (4,500 feet) which lies above target zone of interest.

TAP OIL (9 FEBRUARY 2001)

Success in Simpson-1 Oil Appraisal Well - The Simpson-1 appraisal well has drilled to its total depth and encountered a 33.4 hydrocarbon column, being 18 metres more than pre-drill prognosis.
The 33.4 metre column has at this stage been interpreted based on measurement while drilling log data along with excellent oil shows over the interval.

HERALD RESOURCES (8 FEBRUARY 2001)

WILLIAM NOALL ISSUES A BUY RECOMMENDATION FOR HERALD - Sopokomil Deposit -Outstanding Global Resource . FOR DETAILS, CLICK HERE.

CROESUS MINING (8 FEBRUARY 2001)

Croesus Mining announced today that it had signed a $10 million joint venture agreement with Placer Dome Asia Pacific to explore Croesus' Binduli project.
Under the terms of the agreement Placer may earn up to a 75% interest in the Binduli project by spending $10 million on exploration and feasibility studies.

Placer, with Croesus has been investigating the Binduli project over the past two years developing conceptual gold targets based on advanced geophysical and geological modeling.
Preliminary in-house geophysical surveys conducted by Placer at Binduli have identified at least 3 anomalies that may represent sulphide gold mineralisation similar to the high grade ECM (Eastern Contact Mineralisation) that averaged over 20g/t gold and was mined by Croesus from the Centurion pit in 1999.
Croesus retains the right to continue its current development and mining of the existing 750,000 ounce resource base at Binduli.

SELWYN MINES (8 FEBRUARY 2001)

Selwyn announced that it has awarded the Scoping Study for its Selwyn Twin Ridges project to Fluor Daniel (a division of Fluor Australia Ltd). Selwyn called for tenders for the Scoping Study in December/January. A number of competitive tenders from major engineering firms were received.

The Study is planned to be completed by late April 2001. The study will investigate the commercial viability of a major copper-gold development adjacent to Selwyn's existing operations at the Selwyn Project near Mt Isa in NW Queensland. The Project will be based on the relatively large, low grade Selwyn Line and Mt Dore deposits. The resources for these deposits are detailed in our December 2000 Quarterly Report.

SONS OF GWALIA (8 FEBRUARY 2001)

Sons of Gwalia Ltd ("the Company") announced today that it has acquired its two joint venture partners' interests in the Southern Cross region of Western Australia.

The Executive Chairman of the Company, Mr Peter Lalor, said:
"We have been keen to achieve this outcome for some time and believe the rationalisation and consolidation of the Southern Cross region, processing ore through one large, low cost milling facility, will result in significant, long term benefits to the Company."

The Company said that it had acquired beneficial interests in a number of assets previously shared with the Joint Venture partners including:

i. A 30 per cent interest in the Yilgarn Star Gold Mine.
ii. A 25 per cent interest in the Star Mill gold processing facilities and infrastructure situated between the Yilgarn Star and Marvel Loch Mines.
iii. A 25 per cent interest in the Great Victoria and Nevoria Gold Mines.
iv. A 25 per cent interest in the Southern Cross Joint Venture which comprises approximately 60 kilometres of strike and 1,200 square kilometres of mining tenements covering the historical Southern Cross gold belt.
v. A 50 per cent interest in the Gasgoyne gold hedge book which comprises a total of 180,000 ounces of bought puts at an average delivery price of approximately $600 per ounce.
vi. A 50 per cent interest in a large tenement position south of Laverton.

The Company said that significant cost savings and other benefits would be released as a result of the rationalisation resulting in cash flow benefits in the order of $7 million - $10 million per annum.

The Company said that the consideration for the purchase of the above assets comprised $21.9 million plus a royalty on 75 per cent of production from the Yilgarn Star Gold Mine alone.

SUN RESOURCES (8 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0700 hours 7 February 2000, is at 939 metres (3,082 feet) and is currently drilling ahead in 12 (1/4)" hole to next casing point 1,372 metres (4,500 feet) which lies above target zone of interest.

WEST OIL (8 FEBRUARY 2001)

West Oil NL announces the AC/P22 Joint Venture has received the Sedco 703 semi- submersible drilling rig. The rig is expected to be on location at Puffin-6 on the night of Thursday 8th February.

QUEENSLAND GAS COMPANY (7 FEBRUARY 2001)

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 was completed today as a potential coalbed methane producer. Testing of the well during drilling produced gas at a rate of 358 000 cubic feet per day (10 100 cubic metres per day)

The well is now shut in awaiting equipment to be set up for further evaluation.

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.

The completion of this well has earned QGC a 50% interest in the Walloon Coal Measures in ATP 620P.

The rig will now move to the Argyle No. 5 site located approximately 1.2 kilometres south of Argyle No. 2. The Argyle No. 3 and No. 4 sites, 900 metres east and north respectively of Argyle No. 1 are not accessible due to recent heavy rain.

FOR MORE INFORMATION, CLICK HERE.

AUSTRALIAN MINING INVESTMENTS (7 FEBRUARY 2001)

AMI has, during December 2000-January 2001, engaged geological and other consultants to examine, and assist in the selection of one of more suitable oil & gas exploration and/or production projects in the central Asian republic of Kazakhstan. Those consultants have extensive local experience, and are now in the course of a visit to Kazakhstan to review available opportunities for AMI to acquire an interest.
AMI stated in its 2000 Annual Report that it intended to explore opportunities to invest in projects in the energy sector, and in December 2000 it raised $300,000 to assist it to examine such possible opportunities.

BLIGH OIL & MINERALS (7 FEBRUARY 2001)

The Rimu-A2 is currently drilling ahead in 6" hole at a depth of 4197 metres.
The well is being 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.
Preparations continue for a long term production test of the Rimu Limestone interval in the Rimu-B2 well, with 4 (1/2)" liner set at 3516.9m.

SUN RESOURCES (7 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin, North Island of New Zealand, at 0800 hours 6 February 2000, is at 650 metres (2,152 feet) and is currently drilling ahead in 12(1/4)" hole to next casing point 1,372 metres (4,500 feet) which lies above target zone of interest. It is anticipated next casing point will be reached late weekend.

TAP OIL (7 FEBRUARY 2001)

Perpetual Trustees Australia Limited became a substantial shareholder in Tap Oil Limited on 05/02/2001 with a relevant interest in the issued share capital of 7,204,853 ordinary shares (5.30%).

WOODSIDE PETROLEUM (7 FEBRUARY 2001)

Woodside Petroleum Ltd, a Joint Venture partner in permit AC/P17, reports that at 0600 hours WST on 6 February the Audacious-1 exploration well located in the Vulcan Sub-Basin in the Timor Sea is preparing for a production test. Earlier, wireline logging operations were successfully completed.

GLENGARRY RESOURCES (5 FEBRUARY 2001)

An Application for an Exploration Permit for Minerals (EPM) has been accepted by the Queensland Mines Department. The Application, (EPM 13505) is known as Westwood and is located 50 km south west of Rockhampton in central Queensland. It covers over 300 sqkm in area.
At Westwood, palladium(Pd) and platinum(Pt) minerelisation is known to occur associated with a layered intrusive suite (the Bucknalla Complex) with rock chip values up to 9.3 g/t Pd and 3.7 g/t Pt returned from previous sampling. Similar layered complexes, such as the Stillwater Complex in the United States of America, are known to host major economic deposits of Pd/Pt.

MT GRACE RESOURCES (5 FEBRUARY 2001)

Mt Grace announced that the contract for Stage 1 of the Definitive Feasibility Study for the Batchelor Magnesium Project has been awarded to the Bateman Multiplex JV ("BMJV") which is a joint venture between Bateman Engineering Pty Ltd and Multiplex Constructions Pty Ltd.
BMJV will begin work on the Study immediately and Stage 1 is scheduled for completion in April 2001. The Company will award a separate contract for Stage 2 of the Study which will follow on after the completion of Stage 1. Stage 1 of the Study will be managed through Bateman Engineering's Perth office but significant input will come from Bateman's Titaco division and the Project's technology provider, Mintek, both in Johannesburg. Titaco is a world leader in the design and installation of DC plasma arc furnaces and offers broad international experience.

STRATA MINING CORPORATION (5 FEBRUARY 2001)

Strata's 96% owned subsidiary Media Fusion Limited is the beneficial owner of a 90% interest in Exploration Licence 38/890, located 25 kilometres east of Laverton in the Northern Eastern Goldfields Region of WA.
Media Fusion Limited (90%), and Pocketmail International Pty Ltd (10%) have entered into an agreement with NiWest Limited (a subsidiary of Western Metals Ltd), to grant NiWest an option to acquire the rights to explore and mine for lateritic nickel and cobalt on the tenement.
Media Fusion Limited (90%) and Pocketmail Group Limited (10%) retain the rights to all other minerals on the tenement including gold, sulphide nickel, copper and platinum group metals.

County Investment Management Limited became a substantial shareholder in Western Metals Limited on 31/01/2001 with a relevant interest in the issued share capital of 22,152,242 ordinary shares (6.73%).

SUN RESOURCES (5 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin North Island of New Zealand is at 557 metres (1,828 feet) and is currently involved in completing operations at 13(3/8)" casing point (ie installing BOP and testing) to drill ahead in 12(1/4)" hole late today.

WEST OIL (5 FEBRUARY 2001)

Puffin-6 well is expected to commence drilling on or about Thursday or Friday, 8th or 9th February.
This delay has been caused by operational problems associated with the current Operator using the Sedco 703. This has meant that the Sedco 703 has not yet been released to the AC/P 22 joint venture. This is expected today or tomorrow.

CHARTERS TOWERS GOLD MINES (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Drilling resumes in City area
• Directors study South African mine mechanisation
• Mining planned to resume by June
• Rights Issue fully subscribed

During the quarter ended 31st December, 2000 Charters Towers Gold Mines Limited (CTGM) obtained approvals from the Council of the City of Charters Towers for a resumption of exploratory drilling in the centre of the historic City. The work will be carried out at five locations and is a first step in an eventual further $25 million investment in redeveloping the central area of the Charters Towers gold field.

CLUFF RESOURCES (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• 66,000 carats of gem sapphire produced by Queensland Joint Venture
• Diamonds from fragmental rock at Monte Christo Mine
• $83,000 in Cluff jewellery ordered by shareholders

COBRA RESOURCES (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Cobra Resources agrees to acquire Supreme 3 Ltd, a Melbourne based textile group.
• Cobra's mineral assets will be spun off in a newly listed company, Cobra Exploration.
• Anaconda Nickel Ltd withdraws from the Wowo Gap group of tenements, Papua New Guinea, and the Marlborough and Lucknow tenements, Queensland, giving Cobra 100% control.
• A Plan of Operations for the Marlborough Chrysoprase project is lodged with and accepted by the Queensland Department of Mines and Energy.
• Mining E-Trade reports strong growth in on-line traffic.
• Global Dial more than doubles its customer base during the quarter.

CUE ENERGY RESOURCES (2 FEBRUARY 2001)

At 6am on Friday 2nd February, Sable-1 was at 1788 metres and drilling ahead in the Adori Sandstone. No significant hydrocarbon shows have been encountered to date.
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 is testing a structure on the same prominent structural trend as Cashmere-1 that is assessed to have the potential to contain 3 - 18 million barrels of recoverable oil.
The well is expected to drill to a total depth of 2250 metres.

DEEPGREEN MINERALS CORPORATION (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Asia Energy to proceed with bankable feasibility at Phulbari. Net Present Value of the mine alone estimated at $US1.1 billion.
• Cassiar magnesium silicate plant destroyed by fire.
• Samroc investigates electrolytic manganese dioxide (EMD) options.
• High grade gold/antimony resources identified at Costerfield.

DIAMOND ROSE (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• BHP Joint Ventures with Diamond Rose
• Option to purchase 100% interest in Upper Beta Creek granted
• BHP flies hi-tech Falcon Airborne Gravity Gradiometer survey over Upper Beta Creek

DIAMOND VENTURES (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Intersection of 6m @ 6.0 g/t from 121m extends gold mineralisation further down-plunge at Butterfly (Kookynie).
• Assays of 6m @ 6.7 g/t from 104m at Champion and 3m @ 16.8 g/t from 11m at Puzzle North returned from first drilling on these Kookynie prospects.
• Alluvial diamond potential advanced at Ellendale by optionholder, Kimberley Diamond Company.
• Kimberlitic indicator minerals recovered from sixteen aeromagnetic targets on the Mmashoro JV property near Orapa, Botswana.

DIORO EXPLORATION (2 FEBRUARY 2001)

The board of Dioro Exploration NL is pleased to advise the latest results from the ongoing exploration program at the Mungari East project near Kalgoorlie being conducted by operator Mines and Resources Australia Pty Ltd on behalf of the joint venture.

HIGHLIGHTS

• Intersection highlights from infill RC drilling at the southern end of the Frog's Leg deposit include 16 metres @ 16.31 g/t (incl 4 metres @ 52.1 g/t) and 8 metres @ 7.27 g/t.
• The main drilling program at the Frog's Leg prospect is now well under way. 19 RC holes have been completed to date and 8 diamond core holes have been either completed or are in progress. Results will be announced when available.
• Auger soil sampling has been completed over the northern two thirds of Mining Lease 15/688 (the granted tenement containing Frog's Leg and the possible Raleigh extension) and assay results are awaited.

Participating Organisations are advised that subject to shareholder approval the return of capital of Dioro Exploration NL (the "Company") will become effective on Thursday 1 February 2001.
The return of capital is by way of an in specie distribution of 36,093,795 fully paid ordinary shares in Ellendale Resources NL in the ratio of 1 Ellendale share for every 9 shares held in the Company on the record date.

DOME RESOURCES (2 FEBRUARY 2001)

HIGHLIGHTS:
Production achieved during this quarter Gold equiv 16,026 oz
gold 15,309 oz
silver 40,923 oz

Average Cash Production Cost this Quarter* AUD 457/oz

Average Cash Production Cost 6 Months to 31 December 2000 - AUD 481/oz
* Cash Cost per oz of Gold Equivalent

The cash cost of refined production for this quarter was AUD457/oz of gold equivalent. These costs include all mine site cash costs, royalties, PNG mining levy, dispatch and refining expenses in PNG Kina. The cash costs have been calculated by converting the Kina costs for each month into AUD at the average of the opening and closing rate for each month.

CORPORATE
On 30 January 2001 Durban Roodepoort Deep, Limited (DRD) announced that at the close business it had acquired 98.02% of Dome's shares.

DRAGON MINING (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

SVARTLIDEN GOLD PROJECT MOVES AHEAD

A comprehensive pre-feasibility study has been completed for the Svartliden project showing the project should generate a cash surplus of A$59M** pre-financing based on production of 40,000oz per year for 5 years from an open pit using a CIP/CIL plant.
Indications from lending institutions are that the present project could be up to 100% project financed.

Work necessary to complete a BFS has commenced with the appointment of a BFS manager.

A review by an independent geological group has indicated the resource base may be higher than previously reported. An upgraded resource figure is expected to be released in February.

EMPIRE OIL & GAS (2 FEBRUARY 2001)

Empire has substantially increased its acreage holdings in the Exmouth Sub-Basin by settling farmin agreements where the Company's wholly owned subsidiary Rough Range Oil Pty Ltd has the right to earn equity in 3 petroleum exploration permits by conducting geophysical and drilling programmes. The decision by the Company to substantially increase its acreage and the prospect portfolio in the Exmouth Sub Basin was made as a result of the extremely encouraging high resolution magnetotelluric ("MT") results the Company recorded in its EP 41 (Part 3) permit in November/December 2000 ("the 2000 MT Survey") and reported on 1 February 2001 to the ASX.

The permit interests that are to be acquired by farmin are considered immediately applicable to the MT technology and are located adjacent to the Company's EP 41 Part 3 permit (which contains the Rough Range Oilfield) and have a number of seismically defined prospects that are interpreted to have the potential to contain a number of oilfields.

EROMANGA HYDROCARBONS (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

Exploration activities for the period consisted of:

The potential for western Victorian tenements Exploration License No 4223 and Exploration License No 4275 to host heavy mineral sand deposits is presently being evaluated.
An application for an Exploration License covering portion of the Creswick Goldfield in central Victoria is being prepared. The Creswick Goldfield historically produced over 1 million ounces of gold from shallow and deep lead alluvial deposits. The area of application contains numerous sites of past mining and is considered prospective for wide zone reef hosted gold mineralisation. Planned exploration will include detailed geological mapping, geochemical soil sampling and the application of a new genetic and structural model to define drilling targets.

EXCO RESOURCES (2 FEBRUARY 2001)

Exco has struck an option agreement with Mount Isa Mines Limited (MIM) giving the major mining group exclusive rights to assess and negotiate on the E1 copper-gold deposits at its Mt Margaret Project in northern Queensland for a 6-month period.
The E1-North and E1-South deposits, which are strategically located just 8 kilometres east of the Ernest Henry Mine, are the most significant combined resources in the region outside of the Ernest Henry complex itself - totalling more than 140,000 tonnes of contained copper.
Exco announced a mineral resource of 17 million tonnes at 0.83% copper and 0.22 g/t gold in April last year after 12 months of exploration success, but concluded that it would need to add further tonnage to justify a standalone development.

HIGHLIGHTS - DECEMBER QUARTER

• Two separate areas of copper and gold mineralisation are confirmed from the Eight Mile Creek North and Eight Mile Creek East prospects at the Company's Hazel Creek project in Queensland, including 44 metres averaging 0.90 per cent copper and 16 metres averaging 0.86 per cent copper respectively.
• Exco secures in-principle agreement for outright ownership of the Soldiers Cap project through a new farm-in agreement with BHP.
• At the Windera gold project, New South Wales, two metre results indicating narrow, higher grade zones occur, e.g. 8m averaging 0.58 g/t gold, including 2m averaging 1.84 g/t gold.

RESULTS were received for the drilling completed during the previous quarter at the Hazel Creek and Soldiers Cap projects in Queensland, as well as the two metre sample splits from the Windera project in New South Wales. Drilling continued at the Company's Hazel Creek project.

GATEWAY MINING (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

COWRA - NEW SOUTH WALES

• A significant drilling target has been identified at Nasdaq. Exploration has confirmed the potential of the area to contain significant deposits of both carbonate replacement and shear zone hosted gold and base metal mineralisation. A program of reverse circulation drilling will be conducted to test the two zones. One zone is in excess of 450 metres strike and the other up to 1,000 metres in strike.

GIDGEE PROJECT - WESTERN AUSTRALIA

• The company completed 3533 metres of rotary airblast drilling during the quarter.
• At Legendre drilling provided further encouragement. Results included 5 metres @ 0.53g/t gold in hole GRB936 and 2 metres @ 1.32g/t gold in hole GRB940.
• The company has identified an interesting nickel sulphide target at Barrelmaker. Drilling suggests a buried ultramafic unit striking over at least three kilometres. Hole GRB915 intersected elevated nickel (0.25%Ni) associated with elevated platinum, palladium and copper values.
• At Half-Gram Hill strong anomalism in surface laterites up to 0.45g/t gold together with further strong bedrock anomalism in drilling is suggestive of a mineralised system in the near vicinity. Significant bedrock intersections included 10 metres @ 0.43g/t gold in hole GRB956.
• The company has agreed to form a new joint venture covering four mining leases held by Herald Resources. The mining leases cover the Montague Mining centre that has produced over 100,000 ounces of gold. Gateways land holding totally surrounds the ML's. Details of the joint venture will be announced separately when conditions have been finalised. A small amount of RAB drilling was conducted at the Airport prospect that is contained within the new joint venture area.

GINDALBIE GOLD (2 FEBRUARY 2001)

Ore Reserves at Minjar total 138,010 gold equivalent ounces out of a Total Mineral Resource Inventory of 449,210 gold equivalent ounces. The Company commissioned Snowden Mining Industry Consultants to complete the independent estimations.
The 138,010 ounces of gold were reported as part of the Company's Bankable Feasibility Studies into the development of a 500,000 tonnes/annum gold CIP treatment plant on site at Minjar.
Mr David McSweeney Managing Director said, "project finance negotiations were underway and that cash costs were expected to be $290/ounce.
Although the mine life is relatively short at 2-3 years the Company was confident that it would be able to extend the mine life from existing prospects within its 800 sqkm ground holdings in the South Murchison.
We have only tested one of the 12 priority prospects so far being the Keronima Prospect, and the results were outstanding with intersections of 11m @ 4.18 g/t gold and 5m @ 4.62 g/t gold being reported."

GLENGARRY RESOURCES (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Glengarry received from Tanami Gold NL payment of $3.3 million in consideration for the sale of the Larranganni/Tanami Project.
• Intersections of up to 8 metres @ 4.4 g/t Au were returned from deep RC drilling at the Sandpiper prospect at Larranganni. This drilling confirms the down plunge and along strike potential for further mineralisation at Sandpiper.
• Glengarry has upside exposure to further drilling success at Larranganni due to its 7.5% free carried interest in the project and a significant share holding in Tanami Gold NL. Homestake Gold of Australia has farmed into Larranganni and will be undertaking various drilling programs in 2001.
• Glengarry has added 2 more properties to its tantalite portfolio with the acquisition of the Homestead and Sybella properties in Queensland. The portfolio now comprises 2 properties in WA (Greenbushes and Camel Hill) and 2 in Queensland that cover over 1000 sqkm. At Homestead previous heavy media stream sediment sampling returned up to 1% combined tantalum and niobium. These anomalous results have not been followed up by previous explorers.
• A field visit to the Diamantina Project south of Mt Isa in Queensland has enhanced the project's potential for basemetal/gold mineralisation by the identification of large tracts of ground underlain by shallow Proterozoic outcrop with anomalous zinc, barium, rare earth and gold values.
• Drilling by Homestake at Glengarry's Lake Suttor Project in the Drummond Basin region of Queensland has returned anomalous values up to 8 metres @ 150 ppb Au from shallow RAB holes. These results are considered significant because of the proximity to magnetic features and large structures in areas of shallow cover where no previous work has been documented.

GREENSTONE RESOURCES (2 FEBRUARY 2001)

Greenstone Resources NL has issued 500,000 ordinary fully paid shares to Mr S A Macdonald. These shares are part of the consideration paid for the Tabletop Platinum project which was announced to the ASX on 18 October 2000.

HERON RESOURCES (2 FEBRUARY 2001)

• Heron has been holding preliminary discussions with WMC regarding the opportunity for nickel refining at Kwinana. This represents an opportunity to optimise the capital expenditure of a future Heron nickel laterite operation through access to WMC's established nickel infrastructure.
• Drilling at the Goongarrie Nickel Project continued to return the highest Ni-Co grades documented for an Australian nickel laterite deposit. Intercepts for the Quarter at a 0.75% Ni cut-off include:
  
  GSRC672 42m at 1.25% Ni and 0.22% Co from 49m
  GSRC870 43m at 1.39% Ni and 0.19% Co from 20m
  GSRC876 46m at 1.48% Ni and 0.11% Co from 12m
  GSRC891 40m at 1.51% Ni and 0.11% Co from 17m
  GSRC892 36m at 1.45% Ni and 0.14% Co from 18m
• Indicated and Inferred Mineral Resource at a 0.75% Ni cut-off for the Goongarrie-Ghost Rocks-Kalpini and satellite nickel projects is currently 180 million tonne at 1.05% Ni and 0.08% Co.
• Bonanza grade resources have been identified which are being targeted for supplying Heron's Cawse Stage 1 toll milling entitlements.
  
  Goongarrie Hill Screening Ore 2.2 million tonne at 1.7% Ni & 0.14% Co
  Goongarrie South Grind Ore 1.2 million tonne at 1.7% Ni & 0.72% Co
• Resource Definition drilling has been completed at Goongarrie, with all mineralised zones having now been drilled on an 80x80m pattern. Accordingly, 74% of the Goongarrie Project resource now conforms to the Indicated Mineral Resource category, providing Heron with a high level of confidence in terms of high grade ore continuity.
• Metallurgical testing of 14 composites of Diamond Drill core is ongoing, returning excellent results.
• The Heron joint ventures through their free-carry and royalty provisions are showing potential to generate significant assets for the Company, notably the Yundamindera Flash soil gold target (peak soil value 290,000ppb Au) and Bungalbin Iron Ore Royalty.
• To help implement the Company's future objectives, Heron has converted from a No Liability to Limited Liability status with an associated change of name to Heron Resources Limited.

JERVOIS MINING (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

METALLURGY - NICKEL/COBALT LATERITES
The Company is negotiating with an overseas group for the access to new technology with potential for the economic recovery of nickel and cobalt metal from small or lower grade nickel/cobalt laterites.

YOUNG (NSW) NICKEL/COBALT/SCANDIUM LATERITE
These resources contain in excess of one million tonnes of nickel metal and in excess of 5000 tonnes of scandium metal. This property is the Company's major asset. Samples have been composited for future atmospheric pressure acid leaching testwork.

BEACONSFIELD (TASMANIA)
The Company was the successful tenderer for an Exploration Licence of 34 square kilometres. The area contains 12.5 million tonnes @ 0.84% nickel and 0.07% cobalt based on previous drilling programmes considered to be in the "Indicated" category. Chromite and minor platinum group minerals have been mined from the area in the past. In ground values for the above resources would exceed 1.7 billion dollars.

JERVOIS/CSIRO SCANDIUM R & D
Research continues on aluminium/scandium alloys and castings. Potential future applications for substantial amounts of scandium would also be in Fuel Cells and Laser applications.

MT MOSS (QUEENSLAND)
Negotiations continue with a group interested in extracting magnetite from the Jervois Mining Lease on a Royalty basis.

FOREST REEFS (NSW)
The Joint Venture with Newcrest has been extended for a further two years.

JOHNSON'S WELL MINING (2 FEBRUARY 2001)

DECEMBER QUARTER - OVERVIEW

NEW MISSION STATEMENT
The Company announced its new mission statement which is to lead growth and innovation in the Australian gold industry through exploration and mine development for the benefit of our shareholders and the communities in which we operate, whilst maintaining a strong commitment to safety, technical excellence, environmental responsibility and outstanding community relationships.

GOLD - DUKETON AREAS, WESTERN AUSTRALIA
Encouraging results were obtained from air core ("AC") drill testing of priority targets identified on the Rosemont - Famous Blue trend during the quarter. Follow up drilling will commence early in 2001.
At Miller Hill, AC drilling intersected oxide gold mineralisation over a strike length of 1,200 metres with the best result being:
6 metres at 7.4 grams per tonne ("g/t") gold from 52 metres (to end of hole).

Reconnaissance field checking of the Collurabbie area commenced. Compilation of historical drilling and surface geochemistry indicates that many of the identified targets are only poorly constrained laterally and vertically by drilling. Reconnaissance drill programs to test the identified targets are scheduled to commence in 2001.

GOLD - RAND PROJECT, NORTHERN TERRITORY
The Company geologists responsible for the Rand Project presented a technical review paper on the project at the "Gold in 2000" conference in Nevada. The presentation summarised the geological framework of the Witwatersrand Basin and reviewed the basis for the Rand Project in the light of the Witwatersrand model. Feedback was positive and the Company remains convinced that the geological match with the Witwatersrand and evidence for mineralising processes strongly support our exploration focus and strategy.
Ongoing negotiations and meetings with the Central Land Council and Traditional Owners resulted in an undertaking by the Central Land Council to have at least three of the priority exploration licence applications on Native Title land in the Mt Doreen area granted to enable commencement of field activities in the next field season.

GOLD - VIOLET TOWN PROJECT, CENTRAL VICTORIA
Regional auger soil sampling was completed over 300 square kilometres of the project area. Results were received for approximately one third of the samples and these showed two subtle gold anomalies in the central part of the area. Geological mapping and widely-spaced rotary air blast ("RAB") and air core ("AC") drilling was also conducted during the quarter.

KAGARA ZINC (2 FEBRUARY 2001)

KAGARA SETS $3.4 MILLION ISSUE TO FAST-TRACK NORTH QUEENSLAND EXPLORATION
Kagara Zinc Ltd (ASX: KZL) has announced a fully underwritten $3.4 million entitlement issue to accelerate exploration at its North Queensland base metal properties as it finalises a bankable feasibility study on its flagship Mt Garnet Project which is expected to lead to project development and first production by March 2002.
The Perth-based Company today (Friday) lodged a Prospectus for a one-for-five non-renounceable entitlements issue pitched at 30 cents per share. The issue will raise $3.4 million net of expenses and is fully underwritten by CIBC World Market Securities Australia Ltd.

KIDSTON GOLD MINES (2 FEBRUARY 2001)

DECEMBER QUARTER - OVERVIEW

• Gold production for the year ended 31 December 2000 was 244,194 ounces compared with 213,101 ounces in 1999. This is the highest annual production in Kidston's 16 year history, and can be attributed to higher feed grade, recovery and mill throughput.
• The latest reserve calculations indicate the mine will cease operations in mid 2001.
• Mill throughput for the year was a record 7.4 million tonnes, similar to last year's 7.3 million tonnes.
• Head grade for the December quarter was 1.43 grams of gold per tonne (g/t) and 1.25g/t for the full year. These results compare favourably with the corresponding 1.19g/t and 1.13g/t from the previous year.
• Gold production for the quarter was 72,575 ounces compared to 52,942 ounces for the corresponding quarter in 1999.
• The mine moved 17.2 million tonnes in 2000 compared with 24.2 million tonnes the previous year. This decrease is due to reduced stripping requirements and geotechnical difficulties in the Eldridge Pit.
• Exploration work is now complete, all exploration sites have been reclamated and reports submitted to Queensland Minerals and Energy for review and relinquishment.

KIMBERLEY DIAMOND COMPANY (2 FEBRUARY 2001)

Kimberley has reached agreement to purchase the Ellendale Diamond Field from Argyle Diamond Mines and to settle all outstanding legal actions relating to the project - positioning it to develop Australia's only locally owned diamond mining operation.

The purchase price is payable in stages, with $500,000 payable on signing of the agreement, $1.5 million payable once the consent of the Minister for Resources Development has been obtained and the balance of $21.25 million payable on 2 July 2001 or 30 days after all other conditions have been fulfilled, whichever date is the later.
Argyle will retain a right to "buy back" an interest in any new pipe discovered by Kimberley in the Ellendele Diamond Field (excluding the 48 known pipes in total in the Ellendale Diamond Field) under a pre- determined formula.

KIMBERLEY OIL (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

1. OIL PRICE, OIL SALES
The price of oil for the West Texas Intermediate (WTI) marker crude remained around US$30/barrel for the entire quarter, up from a low of around US$25 in mid-April, 2000. The US$/A$ exchange rate is now less favourable than it was in the last quarter. It now appears to be stable in the US$0.55-0.56 =A$1 range.
The sale of Joint Venture crude on a monthly basis to BP continued, and hence the Company has been able to get the immediate benefit of the relatively high A$ oil price.

2. PRODUCTION
The company's total oil production for the quarter ending December, 2000 was 9,737 barrels.

3. FARMOUT EFFORTS
The Company has continued its efforts to farm out the drilling of key wells in its Canning Basin acreage. One of our directors is currently (27 January, 2001) in London where he will contact various oil and gas explorers to try to interest them in the prospectivity of our acreage in the Canning.
Our main focus has been the Yulleroo Prospect, on which a well drilled in 1967 flowed a small amount of wet gas. Yulleroo has the potential to host over 1 trillion cubic feet of gas and 50-150 million barrels of condensate.
Our understanding of the prospectivity of the area has been enhanced by extensive re-processing of the seismic control, and a detailed study of core material from the objective section in the well. Fragments of coral have been described by our consultant stratigrapher in core from the interval just below the Yulleroo gas sands. The coral occurs in rocks of the same age as the Devonian reefs which are exposed along the northern margins of the basin (in such places as the Windjana and Gieke Gorges). Their presence suggests the possibility that the Yulleroo-1 area was close to a reef or carbonate bank in Upper Devonian times. The re-processed East-West seismic line through the well shows what could be a carbonate mound or patch reef within several hundred metres of the well. Ancient reefs are among the most prolific oil and gas reservoirs in the world and this possibility will be tested when Yulleroo-2 is drilled.

A Memorandum of Understanding ("MOU") was signed in mid-December with the Oswal Group, a large Indian fertilizer manufacturer with market capitalization of over US$2 billion. The MOU gives Oswal the right of first refusal on all Kimberley Oil projects until February 12, 2001.

During January 2001, three earth science consultants contracted to Oswal visited the Kimberley offices to perform due diligence on several of our projects.
We have, today, received notification from Oswal that they will not pursue their right to farmin to Kimberley's projects.

4. CANNINE BASIN ACREAGE POSITION
During the quarter, the Company bought the rights to two New Applications previously held by Otto Oil. The areas cover much of the Fitzroy Trough and adjoin Kimberley's EP391 on its northern boundary. The acquisitions became necessary when our mapping indicated that the Yulleroo Prospect extended into both of the former Otto Oil blocks, in which, in addition, several Yulleroo look-alikes were mapped. We are currently initiating negotiations with the native title claimants in the new areas.
Negotiations are continuing with the native title applicants on the Pictor Block, 2/96-7. The block contains the promising oil and gas discovery of Pictor-1, and the Company is keen to gain formal title to the permit since it fits well with our adjacent permits EP390 and 391 and the lessons learned in one will help in the other two. The Pictor Block also shares common geology and prospectivity with the Shell acreage which surrounds it on the north, east, and south and any success in the current Shell push to farm out an interest in its permits will enhance the value of Kimberley's acreage.

6. COALBED METHANE-POLAND.
The Company has maintained a watching brief on energy developments in Central Europe in general, and on possible coal bed methane projects in Poland in particular. One of our directors spent several weeks in Poland during November and December 2000 discussing several possible projects with coal mine executives. The Company continues to be impressed with the commercial possibilities, which exist in Poland, and hopes to consummate a joint venture with one or more coal mines to harness the gas liberated by coal mining operations for electricity generation within the first half of 2001.

7. OIL SPILL REMEDIATION TECHNOLOGY
Transfer of title to the Oil Spill Remediation Technology to Kimberley Oil was confirmed on 6th November 2000, and 500,000 Kimberley shares were issued to the previous owners. The technology was successfully demonstrated to shareholders at the AGM in November. The Principal Scientist in charge of commercialisation of the technology is currently working towards obtaining a Commonwealth Government grant to assist with this process. The Company hopes to have the commercialisation completed by the end of 2001.

8. SUMMARY
The Company has achieved a positive cash flow from its producing operations, it has interest from potential farminees, and both the Polish and Oil Spill Remediation initiatives look promising. The Directors see 2001 as being a year of great potential for the Company.

LEGEND MINING (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

MUNNI MUNNI/ELIZABETH HILL PROJECT
LEGEND MINING LIMITED 30% EAST COAST MINERALS 70%

• Quarterly silver revenue of $2,352,434.00
• Tailings retreatment Notice of Intent lodged at Department of Minerals & Energy
• Feasibility Study completed on extraction of silver from tailings by heap leach
• Cumulative silver production reached in excess of one and a half million ounces during the quarter

LIONORE AUSTRALIA (NICKEL) (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

DEVELOPMENT (EMILY ANN DEPOSIT - 100% OWNED)

• Project go-ahead given following execution of formal project finance documentation during the quarter.
• Site works initiated in the previous quarter continued during the quarter with the project now (at the end of January 2001) around four months into its development plan.
• First nickel concentrate production from Emily Ann is on schedule for the end of 2001.

DEVELOPMENT (MAGGIE HAYS DEPOSIT - 31% OWNED)

• Work on the Maggie Hays deposit scoping study continued during the quarter.

REGIONAL EXPLORATION

• Routine exploration activities continued during the quarter.

MAIDEN GOLD (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

STRATEGIC ALLIANCE FINALISED WITH ANGLOVAAL MINING LIMITED
Maiden formalises Strategic Alliance with Anglovaal Mining Limited.

MAIDEN PROPOSES TAKEOVER OF UNIVERSAL GOLD NL
Maiden announces a proposed takeover of unlisted Australian junior Universal Gold NL to bolster Tanzanian interests. The takeover is expected to be completed in the March Quarter.

AGREEMENT REACHED WITH PHELPS DODGE ON ERITREAN BASE METALS PROJECT
An agreement was reached with Phelps Dodge Exploration Corporation to acquire 80% interest in the Debarwa and Medrizien VMS exploration areas and deposits near Asmara in Eritrea.

METEX RESOURCES (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

LAVERTON EXPLORATION JOINT VENTURE (METEX - DELTA GOLD LTD)

• Heads of Agreement signed with the Granny Smith Joint Venture ("GSJV" - Placer 60% Delta Gold 40%) and feasibility study commences on the defined "Chatterbox" open pit mineable oxide resources on tenements M38/101 and M38/535 (total of 6.2m tonnes @ 2.3g/t for 463,000 ounces of gold).
• Initial programme of 3,500m of RC drilling due for completion in February underway at Whisper.
• On commercial development a two stage royalty will be payable to the Laverton Exploration Joint Venturers ("LEJV"). The initial royalty rates apply to the first 75,000 ounces of gold produced, and depending on gold price, range between $28.75 and $60 per ounce. Once 75,000 ounces have been recovered the rates range between $43.80 and $75 per ounce. The lower rates apply for gold prices significantly less than current spot prices, with the highest rate applying above $525. All figures are in Australian dollars.
• Metex's share of cashflow from production could amount to approximately $3.0 million for each year of production at current gold prices. Subject to the successful conclusion of the feasibility study this cashflow could commence early 2002.
• RAB drilling completed at Red Flag returns encouraging results, including 4m @ 8.31g/t and 6m @ 4.04g/t from traverses 300m apart in a new zone of mineralisation.

WESTERN AUSTRALIAN EXPLORATION

• Vacuum drilling completed on the 100% owned Roe project identifies a number of significant anomalies, the most extensive of which covers an area of 2.5 x 1.5 km. Gold and arsenic anomalism has been returned from pedogenic carbonate vacuum samples collected from traverses completed across the strike continuation of the prospective Carosue Dam structures and lithologies.

GENERAL

• Retain approximately $1.13 million in cash at the end of the December Quarter.

MOLOPO AUSTRALIA (2 FEBRUARY 2001)

Molopo has reached agreement in principle with Oil Company of Australia Limited to earn a 50% interest in Authority to Prospect 564P, with an option to earn a similar interest in the northern portion of the adjoining Production Lease 94, both located in the central Bowen Basin in Queensland. The farm-in will be subject to Ministerial approval under the provisions of the Petroleum Act 1923.

MONTO MINERALS (2 FEBRUARY 2001)

DECEMBER QUARTER - OVERVIEW

PROJECT FUNDING

• Monto Minerals and Multiplex Constructions have extended the Heads of Agreement to 4 March 2001.

GOONDICUM CRATER ILMENITE AND TITANO-MAGNETITE PROJECT

• Plagioclase feldspar analysis indicates suitability for glass industry.
• Major plagioclase feldspar consumer confirms analysis.
• Land owners, including the Monto Shire Council, sign "in principle" agreements regarding water pipeline access.
• Rehabilitation of pilot plant area proceeding well.

MARKETING

• lmenite concentrates (minimum 54% TiO(2) FOB Australia) continued to rise from $140 - $165 in June 2000 to about $155 - $200 in December 2000. Goondicum Ilmenite is in the 49% - 50% TiO(2) range.
• Certain grades of feldspar used in the ceramics and glass industry increased in price in the USA late in 2000.

MOSAIC OIL (2 FEBRUARY 2001)

Directors indicate a record six month period for this Sydney based oil company. Receipts of $3 million for the last December Quarter bring the six monthly receipts to $4.5 million (a figure greater than last years total revenue). Directors also report a positive cash-flow (after spending $400,000 on exploration) of over $500,000 for the last six months.

GAS DISCOVERY AT DOWNLANDS EAST (Mosaic 71.11%)
This well encountered an 8 meter gas saturated sandstone section in the Tinowon Sandstone about 2 kilometers to the north east of the Downlands No 2 well. Production testing is expected in February and no comments on reserves are possible until this test is analysed. The well is approximately 1 kilometers from an existing gas pipeline. Any production gas will be treated at the Wallumbilla LPG plant (50% owned by Mosaic).

CONTINUED RE EVALUATION OF SILVER SPRINGS AREA (Mosaic 100%)

• Taylor 5 (which had not been on production for some years) is now on line with the capability of producing 500,000 cubic ft gas a day and 30 barrels of oil per day.
• Oil was discovered in a new zone at Glen Fosslyn and production equipment for that well is presently being designed.
• Taylor 16 was re-completed and brought back online in November. Current production capability is 250,000 cubic ft/day and 30 bbls oil per day.
• Plunger lift equipment and special small diameter production tubing were imported to stimulate production. Plunger lift equipment was installed on Tinker 3; testing is continuing. The small diameter production tubing has been very successful. Silver Springs No 11 is producing 600,000 cubic ft of gas per day and Taylor 1 (formerly producing 100,000 cubic ft /a day sporadically) is now producing a stable 100,000 cubic ft/day. Another three strings of this thin diameter tubing have been ordered for installation in other wells in April/May.

FAIRYMOUNT (Mosaic 100%)
Production is stable at 50-60 barrels oil per day. A new evaporation pond has been built to handle any extra water from Fairymount 8.

PAPUA NEW GUINEA - KAMU SEISMIC SURVEY PPL 192 (Mosaic 20%) and PPL 215 (Mosaic 20%) and PPL 193 (Mosaic 20%).
The retention Licence for Kirnu has been lodged. Work at Kimu indicates 1 TCF recoverable gas and 1.7 TCF original gas in place.

TIMOR SEA PERMITS AC/P19-Mosaic 35% AC/P26- Mosaic 35% (Operator)
Farmout efforts have continued with presentations in the United States, Canada and England. Additional mapping was undertaken on Anson West which reconfirmed the structure's integrity.

WA 208P (Mosaic 5%)
Operator -Woodside Petroleum has contracted the Ocean General to drill Delilah 1 and the proposed spud date is in March this year.

NEWCREST MINING (2 FEBRUARY 2001)

Perpetual Trustees Australia Limited became a substantial shareholder in Newcrest Mining Limited on 01/02/2001 with a relevant interest in the issued share capital of 12,451,650 ordinary shares (5.08%).

DECEMBER QUARTER - KEY POINT

Ridgeway construction continues on schedule.

OVERVIEW

PRODUCTION

• Gold production for the quarter was 168,475oz (227,400oz) at a Total Cash Cost of $291/oz ($297/oz).
• Telfer production ceased in early October.
• Copper production for the quarter was 8,669t (10,209t).
• Ridgeway production increased to 12,939oz Au (9,412oz) and 1,652t Cu (979t).
• Gosowong production of 41,555oz (51,777oz) was down due to planned lower feed grade.

DEVELOPMENT

• Ridgeway mining lease granted on 27/10/2000 and construction continues on schedule.

EXPLORATION

• Strong encouragement continues at Cadia Far East. Results to date have defined a broad mineralised zone.
• High grades encountered near Gosowong.

HEDGING & FINANCE

• Achieved gold price of $635/oz ($663/oz).
• Gold and currency mark to market negative $131 million and copper negative $82.9 million. This represents an overall reduction of the negative mark to market value by $326 million in the quarter.

CORPORATE

• Half Year Financial Results are anticipated to be released on 28 February 2001.

Numbers in brackets reflect the comparable figure for the September 2000 quarter.

NEW ZEALAND OIL & GAS (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Tui prospect further upgraded
• New prospect defined in PEP38460

PRODUCTION FOR DECEMBER QUARTER

OIL
Oil sales from Ngatoro generated $2.1 million in net operating cash flow with oil prices averaging NZ$76 per barrel.
Australian production (Chervil Field) for the quarter was 27,000 barrels (NZOG group share 6,255 barrels) a 10% reduction on the prior quarter.

GAS
Tubridgi and Griffin gas sales in total averaged 38.2 terajoules per day during the quarter, the prior quarter's gas sales averaged 35.4 terajoules per day.

NIDO PETROLEUM (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

PHILIPPINES

• Nido continued to receive payments from SC 14 production.
• Discussions with a number of parties to facilitate the drilling of Coron North in 2001 continued.
• Discussions with potential farminees to pursue development of the Galoc discovery continued.

COST SAVINGS/EFFICIENCIES

• Nido has transferred its offices from Perth to Sydney where it has taken space in the offices of its major shareholder Novus Petroleum. This has been undertaken as part of a strategy to reduce overheads and to access Novus technical, accounting and administration services.
• Effective 31 October 2000, the Managing Director, Peter J Henderson stepped down from his executive duties and took a non-executive role on Nido's Board. Mr Joe Salomon became General Manager, working from the Sydney office.

NORWEST ENERGY (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Puffin 6 (AC/P22) scheduled to commence drilling on the 4th February 2001
• Norwest participates in the drilling of two exploration wells. Both of these wells encountered hydrocarbons.

OIL COMPANY OF AUSTRALIA (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Four appraisal/development wells on the Bodalla South and Kenmore oil fields in SW Queensland were successful.
• The Barrolka 4 well, further appraising the large Barrolka field in SWQ, was successful.
• Pipeline construction to the major Barrolka, Baryulah and Chiron fields in SWQ has been delayed by ILUA negotiations.
• A successful Yandina 4 well was drilled in the Denison Trough to conclude a successful 2000 drilling programme.
• A 12 well appraisal/development drilling programme was commenced in the Dawson Valley project area near Moura, Central Queensland.
• Development of the Peat coal seam gas field is on schedule for the commencement of supply of gas to the BP Clean Fuels Project, Bulwer Island, in February 2001.
• Two recent Peat field wells have been completed and are flowing at commercial rates.
• The Bass Petroleum NL farmin programme in the Surat Basin has commenced with geochemical surveying.
• Seven exploration or appraisal wells were drilled in the SWQ Unit area. Three were successful with a further two awaiting evaluation.

OIL SEARCH (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Oil production rose by 10.5% to 1.89 mmbbls during the quarter, underscored by an increase in the Company's share of Moran Central production of over 110%, representing the first full, relatively uninterrupted quarter of production from Moran 4.
• Operating revenue rose by 21% to US$34.42m, based on liftings of 2.075 mmbbls.
• The PPL138 Joint Venture was offered, and accepted the offer from the PNG Government, for Development Licence PDL5. This follows the signing of the Development Agreement between the State and Landowners. Following the end of the reporting period, some disruption to production at Moran was experienced as a result of Landowner unrest, however this was quickly and responsibly resolved, with production recommencing on 27 January. Formal award of the licence is expected imminently and is awaiting arrangement of a formal ceremony in the field. Licence award will trigger unitisation for the field.
• Approval was received from ACCC for involvement of ExxonMobil and Santos in joint marketing activities for PNG gas. Detailed terms for the sale of gas were presented to various customers late in the quarter and material discussions are now taking place with key stakeholders. Progress was also made on finalising fiscal terms applicable in PNG and on discussions between the PNG and Australian Governments on financing PNG participation in the gas project infrastructure.
• Joint Venture approval of programmes and budgets will see a continuous drilling programme, involving important development, appraisal and exploration holes at Kutubu, Moran and in PPL138, as part of the 2001 programme. A drill rig has been contracted for this activity. Further development and exploration drilling has also been agreed in the Gobe area.
• The Company's Browse Basin licence, WA-281-P, has been upgraded by recent potentially significant gas condensate discoveries in the adjacent Inpex operated licence. An exploration commitment well must be drilled in this licence in the 3rd quarter of 2001. The Company has been successful in farming out interest for a full carry through the first phase of exploration in Block 15 in Yemen. A number of significant offers were made for interest in this prospective licence.

ORIGIN ENERGY (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Development of the Peat coal seam gas field is on schedule for the commencement of supply of gas to the BP Clean Fuels Project, Bulwer Island, in February 2001.
• Two recent Peat field wells have been completed and are flowing at commercial rates.
• Origin Energy Resources successfully applied for gazettal block OT2000-C and has been advised that the permit will, if awarded, be designated PEL 83. A formal offer and acceptance of the permit is awaited. A 3D seismic survey of 50 sq km forms the year 1 work program for the permit, which will be undertaken in the 2nd quarter of 2001 if award of the permit is made in time. Contingent planning for this survey is also well advanced.
• A 12 well appraisal/development drilling programme was commenced in the Dawson Valley project area near Moura, Central Queensland.
• Four appraisal/development wells on the Bodalla South and Kenmore oil fields in SW Queensland were successful.
• The Barrolka 4 well, further appraising the large Barrolka field in SWQ, was successful.
• Pipeline construction to the major Barrolka, Baryulah and Chiron fields in SWQ has been delayed by ILUA negotiations.
• A successful Yandina 4 well was drilled in the Denison Trough to conclude a successful 2000 drilling programme.
• The Bass Petroleum NL farmin programme in the Surat Basin has commenced with geochemical surveying.
• Seven exploration or appraisal wells were drilled in the SWQ Unit area. Three were successful with a further two awaiting evaluation.
• 3D seismic data acquired in PEL 32 (South Australian, Otway Basin) have been processed and interpretation is in progress. Excellent direct hydrocarbon indicators have been identified and planning for a drilling program in the second quarter of 2001 is in progress.
• Planning for 2D seismic surveys in the Otway Basin of South Australia and Victoria in the following permits PEL 27 (55.2km) PEP 159 (66km) and PEP 152 (10km) is advanced.
• Drilling of the McNamara Deep Prospect that is being jointly funded by the PEL 57 and PEL 72 Joint Ventures is planned for March 2001.
• Drilling of Dunbar 1ST1 located in PPL 1 (Onshore Victorian Otway Basin) is planned for February 2001.

OTTER GOLD MINES (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Otter equity gold sales averaged NZ$682 per ounce (A$533 per ounce), while average cash operating costs were NZ$577 per ounce (A$451 per ounce).
• Otter net equity gold production was 30,122 ounces.
• Otter raised NZ$11.7 million (A$8.9 million) by a fully underwritten rights issue, which closed on 27 October 2000.
• Normandy Mining Ltd may spend NZ$3.5 million on new deep drilling programme to earn an additional 17.06% in the Union Hill Joint Venture.

OVERVIEW
Otter's net equity share of the December quarter gold production was 30,122 ounces. Production from Beaconsfield, while still below budget, continues to improve with gold production of 18,293 ounces from the mine, a reflection of plant improvements and changed mining practices initiated in recent months.

Average cash operating costs of NZ$577 per ounce (A$451 per ounce) for the December quarter included Beaconsfield Mine production costs of NZ$584 per ounce (A$456 per ounce).

Otter had NZ$3.7 million in cash at the end of the December 2000 quarter. Funds from the rights issue (NZ$11.7 million) were applied to reduce borrowings and to fund operating and exploration activities. A disappointing operating performance from the Tanami mine resulted in lower gold production combined with significantly higher operating costs for the quarter. Changes in mine planning and geological control have been implemented at the Tanami mine to address this situation.

PANCONTINENTAL OIL & GAS (2 FEBRUARY 2001)

At 6am (NZST) 1 February 2001, the Waitaria 2 exploration well had reached a depth of 534 metres and was preparing to run 344mm casing.
While drilling down to 534 meters, background gas levels have risen slowly, ranging from 0.12% to 0.62%, with C(1) values up to 5827ppm, C(2) up to 250ppm and C(3) up to 164ppm below a depth of 380 meters. Mud weights have been increased to 13.5 ppg. These gas and chromatograph readings are consistent with those encountered in the Waitana 1 well with comparable mud weights.
On completion of the current casing operation, the well will be drilled to a depth of 1372 metres where 247mm casing will be run and cemented.

PAN PACIFIC PETROLEUM (2 FEBRUARY 2001)

DECEMBER QUARTER HIGHLIGHTS

• Tusk-2 confirms oil at step-out location
• Cash increased to $4.2 million
• Major 3D seismic programme underway in Carnarvon Basin
• Taranaki Basin prospects upgraded

PIMA MINING (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• A metal sales agreement has been finalised with the German industrial giant, ThyssenKrupp Metallurgie GmbH, for the purchase and marketing of all the magnesium metal from the South Australian project.
• The purchase of granted Mining Leases, including the Myrtle Springs magnesite mine at Leigh Creek, from Normandy Industrial Minerals Limited (NIML), increased the Samag resource from 516 million tonnes to 579 million tonnes at a grade of 42% Mg O.
• The Huandot magnesite deposit at Batchelor, NT, with a high-grade resource of 4.7 million tonnes at 26.1% Mg was also purchased from NIML. The Huandot resource is being integrated as the basis for a Northern Territory magnesium metal project.
• A comprehensive study into the Economic Impact of the Samag Magnesium Project on the South Australian economy prepared by the Allen Consulting Group Pty Ltd, forecast an additional Net Present Value of $11.2 billion to Gross State Product, the provision of 16225 jobs and gains of $1.77 billion to the State Government Net Present Value Budget over a 20 year period.
• Samag Ltd released the Environmental Impact Statement (EIS) for Public Comment on the 13 November. Closing date for submissions was 22 December 2000 and approvals are expected in the first quarter of 2001.
• Samag is well underway to finalising energy strategies essential to providing long-term internationally competitively priced gas and power supplies for the project.
• Engineering work by Thiess Contractors Pty Ltd and Krupp Uhde (in Joint Venture) (TKU) has confirmed project capital costs. Samag is negotiating with TKU for a guaranteed maximum price for the initial (stage 1) plant construction.
• Preparation of full Bankable Feasibility Study Documentation for project finance has commenced.
• Standard and Poor's added Pima to its ASX 300 Index effective after the close of business on the 29 December 2000.

PASMINCO (2 FEBRUARY 2001)

DECEMBER QUARTER HIGHLIGHTS

Pasminco achieved a solid production result for the December quarter, despite lower production from the Hobart smelter due to a conveyor belt fire.

Total zinc and lead production from the Group's mines and smelters during the December quarter was 27% higher than the corresponding quarter in 2000.

Mine production during the December quarter was boosted by the contribution from the Century mine, which is still in ramp-up phase.

The Group's zinc metal production was marginally below last year, due mainly to lower production at the Hobart smelter. Lead metal production returned to normal quarterly levels of 60,000 tonnes following the maintenance shutdown at Port Pirie in the September quarter.

PHOENIX MINING (2 FEBRUARY 2001)

Yamarna (Phoenix 71% to 90%, WMC earning 51% to 60%)

SUMMARY

• WMC Resources Gold Business Unit will assume management control over the Yamarna Joint venture from 1 January 2001.
• Department of Minerals and Energy statutory reporting was brought up to date for project handover from WMC Resources Ltd Exploration Division to WMC Resources Ltd Gold Business Unit.
• Tenements E38/525, E38/610, E38/613, E38/617, E38/619 and E38/620 were severed from the Heads of Agreement in October 2000.
• Prior to severance partial area relinquishments were made on tenements E38/617 and E38/620.
• The tenements remaining under the heads of agreement are E38/526, E38/607, E38/608, E38/623 and E38/804.
• There was no on ground exploration undertaken during the quarter.

EXPLORATION DIVISION AND GOLD BUSINESS UNIT - JOINT VENTURE REVIEWS
WMC Resources Ltd Gold Business Unit will assume management control of the Yamarna Joint Venture from 1 January 2001. Exploration Division will cease to be involved in the JV as of this date.

TENEMENT MANAGEMENT
Department of Minerals and Energy statutory reporting was brought up to date for project handover from WMC Resources Ltd Exploration Division to WMC Resources Ltd Gold Business Unit.
Tenements E38/525, E38/610, E38/613, E38/617, E38/619 and E38/620 were severed from the JV Heads of Agreement in October 2000. Prior to severance partial area relinquishments were made on tenements E38/617 and E38/620. The tenements remaining under the heads of agreement are E38/526, E38/607, E38/608, E38/623 and E38/804.

EXPENDITURE
Exploration capital expenditure for the period 1/10/00 to 31/12/00 totalled $164,076. WMC Exploration has expended life to date on the Yamarna-Phoenix Mining Ltd Joint Venture a total of $4,725,525.

PILBARA MINES (2 FEBRUARY 2001)

DECEMBER QUARTER HIGHLIGHTS

During the quarter Pre-feasibility assessment of the Teutonic Bore surface resources continued. Based on positive results to date Pilbara have elected to commit to Stage 2 of the study.

Exploration drilling continued at Teutonic Bore south, following up previously outlined anomalous targets. Promising gold results were recorded which will require further drill assessment during the March quarter 2001.

Pilbara announced the signing of a joint venture with Inmet Mining Corporation of Canada. Inmet have commenced base metal exploration on the Teutonic Bore leases.

PRESTON RESOURCES (2 FEBRUARY 2001)

DECEMBER QUARTER HIGHLIGHTS

BULONG OPERATIONS

• Record metal production achieved in October and November
• High grade resources delineated south of the Albion pit

QUANTUM RESOURCES (2 FEBRUARY 2001)

DECEMBER QUARTER - OVERVIEW

KING GEORGE - SOUTH AUSTRALIA
Planning for a two-hole drilling program to test the high order gravity/magnetic anomaly at the King George Prospect in the Spencer Gulf progressed during the quarter. Contracts have been signed with the jack-up platform provider and the drilling contractor and drilling is scheduled to commence in early February 2001. The King George Prospect has strong empirical similarities, in geological character, to the Olympic Dam copper-gold deposit, which is in the same structural corridor.

DEVELOPMENT OF NEW BUSINESS MODEL - ROYALTY
The Company has identified a new opportunity in minerals exploration and has announced plans to build a portfolio of mineral tenements with the view to generating returns through a royalty structure or through farm-out opportunities.

TORRINGTON TOPAZ - NEW SOUTH WALES
The Company announced it had purchased Topalite Resources Pty Ltd ("Topalite") which owns the Torrington Topaz Project in New South Wales. Topalite has a research program into the production of hi-tech strengthening materials for the ceramics industry based on the topaz deposit and proprietary processing technology.

CORPORATE - ISSUE OF SHARES AND OPTIONS
On 22 December 2000 the Company announced it had received applications for 30,959,641 shares pursuant to the renounceable rights issue in accordance with the terms of the Prospectus dated 10 November 2000.

RANGER MINERALS (2 FEBRUARY 2001)

DECEMBER QUARTER - OVERVIEW

• Gold production of 84,327 ounces from the Damang mine in Ghana was 10% above budget for the quarter, and cash costs were below forecasts at US$196 per ounce. The budget estimate for gold production in the 2000/2001 year is 320,000 ounces, with 162,947 ounces produced to date.
• At the Essakan gold property in Burkina Faso, where the company has a 6-month period from November 1, 2000, to determine if it wishes to enter into a joint venture with the licence holder, early drilling is verifying the results obtained by previous exploration (circa 1 million ozs), suggesting significant extensions to the known zone of mineralisation, and identifying separate locations with potential for bulk-mineable stockwork gold deposits.
• Pursuing the strategy of identifying advanced exploration properties with demonstrable potential to host world-class ore deposits, Ranger has committed Cdn$5.5 million to acquire 51.6% of the issued capital of General Minerals Corporation (GMC), a company listed on the Toronto Stock Exchange. Completion of this arrangement, which is subject to approval by the shareholders of GMC, provides Ranger with a major equity position in several properties in Chile and Bolivia which meet the criteria noted above. Drilling on two of the properties will commence in February, 2001.
• A fully franked dividend of 5c per share was paid on 18 December, 2000.
• Group cash reserves at quarter end were A$34 million, and debt excluding trade creditors and unpaid interest payments stood at A$36 million.

RED BACK MINING (2 FEBRUARY 2001)

DECEMBER QUARTER - OVERVIEW

• Development decision on Chirano Gold Project expected in the current quarter with a number of development options under review
• Mining Lease and environmental permitting process underway in anticipation of early adoption of Ghana's Environmental Guidelines for Mining in Productive Forest Reserves
• Prefeasibility study virtually completed with development utilizing a second hand plant showing positive economics based on 1.5MTPA throughput over 6.6 year mine life with average 92% recoveries
• Total of 805,000 contained ounces optimized into 6 open pits with overall stripping ratio of 3.3 producing 113,000 ounces per annum at $200/ounce life-of-mine cash operating costs
• Further increase in Indicated and Inferred Resource to 21.5MT grading 2.2.g/t for 1.52 million ounces
• Probable Reserve of 9.9MT grading 2.4g/t for 707,000 recovered ounces
• Continuing exploration success highlights significant potential to further increase resource base at Chirano

ROC OIL COMPANY (2 FEBRUARY 2001)

DECEMBER QUARTER - SUMMARY

• Record $25.7 million quarterly sales revenue pushes 2000 sales revenue to $91 million.
• 41 MMSCF/D gas production up 12%, overall production steady at more than 8,000 BOEPD.
• Kyle and Chestnut North Sea Fields remain on track for production by April 2001.
• Post-quarter independent experts' reports significantly boost Saltfleetby Gas Reserve estimates.

SAMSON EXPLORATION (2 FEBRUARY 2001)

HIGHLIGHTS OF THE QUARTER'S ACTIVITIES -

PETROLEUM
Samson Exploration NL holds a 19.6% interest in Kestrel Energy Inc ("Kestrel"), a US based oil and gas company whose shares are listed on the Nasdaq Small Cap Market. The major asset of Kestrel is a portfolio of production and exploration assets in the gas-rich Green River Basin, located in southwestern Wyoming, USA. The company also owns producing and undeveloped oil and gas assets in Louisiana, New Mexico, Oklahoma and Texas and a 11% stake in Victoria Petroleum NL a petroleum exploration company whose major exploration assets are located in the San Joaquin basin in California.

GREEN RIVER BASIN
Kestrel has total land holdings of approximately 30,000 acres in the Green River Basin, a significant gas producing region in the USA. Kestrel has focused its' initial efforts on the Greens Canyon Field where they have been very active. First, an old 1970s-vintage well was re-entered and gas production initiated. Two new wells were then drilled and completed as gas producers although the production performance has been materially affected by mechanical problems. A 26-square kilometre 3D seismic program was procured to establish the potential productive field limits and assist in optimizing the selection of future well locations. Finally, a 17-mile long gas gathering system was installed to transport the gas to market.

Subsequent to the end of the quarter Kestrel announced that a workover rig was moved onto the Greens Caynon #1 (UPRC 27-3) gas well in preparation to restimulate the well with a new fracture treatment. This work is the first of several workovers the company intends to pursue to improve the production of natural gas from its Greens Canyon wells.

MINERALS

EUNGELLA GOLD PROJECT
The Company previously made application for an exploration permit over an area centred approximately 70 kilometres west of Mackay in Queensland. The permit covers an area of approximately 310 sq km. Grant of the permit is being delayed due to native title issues.
No field activity was undertaken during the quarter.

SANTOS (2 FEBRUARY 2001)

Santos Ltd, as Operator for the South West Queensland Unit, announceD a successful new pool gas discovery well in the Queensland sector of the Cooper/Eromanga Basins.
The development well, Challum 19, flowed gas at 212,380 cubic metres per day (7.5 million cubic feet per day) through a 13mm (0.5") surface choke from a Pre-Permian carbonate reservoir over the interval 2339m - 2367m.
Challum 19, which was drilled to develop gas reserves in the Permian Toolachee Formation, made the discovery in a section previously not proven to be prospective. This first discovery of gas from Pre-Permian carbonates opens up a play concept for the Challum field and adjacent areas.
Challum 19 is located 22km west of the Ballera Gas Centre and some 0.8km north east of Challum 1.
The well will be cased and suspended as a future gas producer.

SELWYN MINES (2 FEBRUARY 2001)

HIGHLIGHTS OF THE QUARTER'S ACTIVITIES -

PRODUCTION

• Ore treatment rate increased by 15% to 700,000 tonnes per annum from 1 December.
• Concentrate production up 4% to 14,339 tonnes
• Copper and gold production up 2% to 3,942 tonnes and 24% to 6,347 ounces respectively.

EXPLORATION

• Successful surface and underground drilling at Mt Elliott Mine aimed at increasing mine life including:
  
  - Downhole intersection of 14 metres at 6.4% copper and 2.2% gold thirty metres east of nearest stope. Follow-up drilling during March quarter.
  - 43 metres of well developed skarn (similar to that which hosts Mt Elliott orebody) intersected at Corbould North. Follow-up drilling during March quarter.

SELWYN TWIN RIDGES PROJECT

• Scoping study tenders being evaluated. Study to be completed by the end of April 2001.
• Selwyn Twin Ridges Project consists of the following resources:
  - Selwyn Line - 300 million tonnes at 0.39% copper and 0.53 g/t gold
  - Mt Dore - 74.8 million tonnes at 0.52% copper

SIROCCO RESOURCES (2 FEBRUARY 2001)

HIGHLIGHTS OF THE QUARTER'S ACTIVITIES - MINING

• Mining was completed during the quarter from the West Koolpin and BHS pits (225,000 tonnes at a grade of 1 g/t gold).
• Irrigation of the dump leach pads commenced during the quarter with gold production re-commencing at the end of the quarter with 951 ounces produced and 503 refined ounces sold.
• Progress towards the commencement of mining the underground resource at Tom's Gully continues with the Company having ongoing negotiations with a number of specialist underground mining contractors with a view to entering into a partnering arrangement for the underground development thereby sharing the risks and costs associated with the initial development.
• Progress is continuing on the proposed restructure of the company's mining and technology businesses into separately listed vehicles during the current year.
• Ongoing focus by the company towards expanding the company's existing gold production and gold resource inventory at the Quest 29 and Tom's Gully projects.
• Strong financial position with cash and marketable securities of in excess of $3 million.

SUN RESOURCES (2 FEBRUARY 2001)

Waitaria #2 in PEP 38335, East Coast Basin North Island of New Zealand is at 557 metres (1,828 feet) at 0600 hours NZ time, 2 February 2001 and is currently involved in running and cementing 13(3/8) casing to later install WH and BOP to drill ahead in 12(1/4) hole very late in the weekend.

SYDNEY GAS COMPANY (2 FEBRUARY 2001)

DECEMBER QUARTER -

CORPORATE

• Completion of rights issue 1:8 and private placement of shares raising a total capital of $7.14 million.
• Issue of Information Memorandum to selected financiers to invite proposals for project finance for development of a further 275 coal bed methane wells and associated infrastructure.

OPERATIONS

• Assessment Lease within PEL 2 granted to the Company.
• Construction of equipment for gas treatment facility.
• Receipt of all required approvals for the construction of the pipeline to deliver gas into the AGL gas distribution system at Camden.
• Procurement of pipes for timely delivery for the pipeline construction.
• Drilling of 5 new wells, Logan Brae # 5,6,7,9,10.

TAP OIL (2 FEBRUARY 2001)

The Simpson-1 oil appraisal well spudded at 06.30 hours on 30 January 2001.
The well is located in TL/l, 0.1 kilometres south of Varanus Island at latitude 20deg 40' 28.97"S and longitude 115deg 35'00.69"E.
As at 6.00am today, the well has drilled ahead to approximately 50 metres measured depth and will continue to drill ahead to the planned total depth of 2,161 metres measured depth (1,925 metres true vertical depth).

TIGER RESOURCES (2 FEBRUARY 2001)

Based on the results of the Company's exploration to date and the ongoing research and review of historical data, two new exploration licences, Conical Rock and Jitarning South were applied for and granted.

The results of reconnaissance sampling on both tenements have indicated elevated gold in soil values in apparently coherent trends that have confirmed and extended previously identified zones. In addition, potentially new zones have been discovered.

Over a number of tenements further geochemical sampling, rotary air blast drilling and reverse circulation drilling are planned for the summer field season.

TRIAKO RESOURCES (2 FEBRUARY 2001)

DECEMBER QUARTER - SIGNIFICANT DEVELOPMENTS

• Production was 10,129 ounces of gold and 106 tonnes of copper from the Mineral Hill Mine with cash operating cost for the quarter after copper credits of $238/oz. The mine cash surplus for the quarter was $700,000 before capital expenditure and exploration.
• Delineation and discovery of high grade copper mineralisation continued at Parkers Hill. On results to date global lower grade and high grade resource estimations were completed (915,000 tonnes at 2.4% Cu and 125,000 tonnes at 7.0% Cu). Initial mine planning studies and metallurgical testwork commenced and a high grade copper concentrate was produced (31.6% Cu at 91.5% recovery). A development decision is expected during the first quarter of 2001
• Gold targets have been defined for drilling in the Mineral Hill region at Boona East, Meloola and Cugong.
• Zinc mineralisation (3m at 9.6% Zn) was discovered at the previously undrilled Parnell Mine in the Southern Cross joint venture near Broken Hill.
• Triako has increased its strategic holding in Buka Minerals to 27.53% of the issued shares. Buka has completed the sale of 75% of the Lady Loretta zinc deposit and has announced that it will (subject to regulatory approvals) distribute 22 cents per share to Buka shareholders ($5.06 million to Triako).

TROY RESOURCES (2 FEBRUARY 2001)

Troy extends offer for Taipan Resources to 8/2/2001.

DECEMBER QUARTER - HIGHLIGHTS

• Continued excellent performance at Bulchina with production of 15,115 ounces of gold at a cash cost of $138 per ounce - the lowest quarterly cash cost since the start of mining (August 1999).
• Troy has acquired 26.26% of takeover target Taipan Resources NL as at 25 January 2001.
• Pit re-optimisation has indicated 130,000 ounces of contained gold in Reserves and approximately three years of mine life remaining at Bulchina.
• Drilling at the Two Mill Hill prospect at Sandstone has returned a number of significant intersections, including:
  3m @ 14.17g/t Au from 42m;
  2m @ 14.95g/t Au from 41m;
  6m @ 3.71 g/t Au from 89m; and
  5m @ 10.20g/t Au from 70m.
  The mineralisation remains open at depth and along strike to the north, where further drilling is planned.
• Total liquid assets of $12.7 million at the end of the quarter and in addition, Troy held approximately $4.4 million worth of shares in Taipan Resources NL.
• Maiden dividend of 4 cents per share paid in November 2000.

WEDGETAIL EXPLORATION (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• An option to acquire a major tenement holding containing significant gold resources in the Nullagine region has been offered to the company. Subject to shareholder approval, the granting of the option will enable the company to proceed to due diligence studies to determine the value of the tenements. The total gold resource is in excess of 650,000 ozs of gold and delivers to the company dominant control of the tenement holding within the auriferous Mosquito Creek Formation.
• Follow up drilling of the Billjim leases (under option) yields intercepts of 4 metres @ 5.79g/t and 8 metres @ 6.01 g/t.
• Soil sampling of the Twenty Mile Sandy Project results in an anomalous area 1,200 metres x 100 metres with maximum values up to 1900ppb being defined.
• Following the capital raising, Echo Technologies Ltd (Echo) entered into a Joint Marketing Agreement with Amadeus GTDSA, a global travel reservation company, allowing Echo to expand its customer base and to be on target with the development of its business. Wedgetail holds 11.2 million shares in Echo representing 14.3% of the issued capital and has the right to acquire, subject to shareholders approval, a further 3.8 million shares which would raise its interest to 18.3% of issued capital.

WERRIE GOLD (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

EXPLORATION ACTIVITIES
BHP Minerals has commenced a 6,000 metre aircore drilling programme on the Company's Western Eyre Peninsula Project in South Australia (Werrie Gold 100%). Assays are awaited for the 1,200 metres of drilling that have been completed to date.

CORPORATE
A placement to raise $500,000 by issuing 6,250,000 shares at $0.08 per share was made for working capital to be used to investigate opportunities within and outside the mining industry.

A promising opportunity has arisen relating to the development of video compression technology. It will allow video signals to be broadcast along copper wire and, if ultimately successful, will have a range of potential applications, primarily in relation to internet broadcasting but also within the mining industry.

In order to develop a commercial prototype to further test the existing technology, the Company proposes to make a further placement of up to 30,000,000 shares at 80% of the average market price for the Company's shares. The directors of the Company shall each vote in favour of the resolution for the placement of the shares to be put to an Extraordinary General Meeting on 14 February 2001.

WEST AUSTRALIAN METALS (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

• Geological interpretation continued on the Ben Hur/King of Creation, Perseverance and Windsor Well/Kismet tenements
• Company investment in BMS Solutions Pty Ltd lifted to 26.66%

WOODSIDE PETROLEUM (2 FEBRUARY 2001)

Woodside Petroleum Ltd, a Joint Venture partner in permit AC/P17, reports that the Audacious-1 exploration well located in the Vulcan Sub-Basin in the Timor Sea has reached a total depth of 2055 metres on 31 January 2001. The well intersected an 11.5 metre gross live oil column that has been confirmed by wireline formation sampling.
Current operation at 0600 WST on 2 February was completion of wireline logging. Preparations are being made for production testing.

Deutsche Australia Limited became a substantial shareholder in Woodside Petroleum Limited on 01/02/2001 with a relevant interest in the issued share capital of 32,199,780 ordinary shares (4.83%); and 1,681,000 ordinary shares in which a derivative interest is held (0.25%). Total voting power 5.08%.

XENOLITH GOLD (2 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS

MINERALS
Xenolith holds a 50% interest in two adjoining base metals prospects (the Koala and Koala II claims) situated in Chihuahua, Mexico. The target is deposits similar to those at Santa Eulalia and Naica which are located nearby and collectively have produced in excess of 60 million tons of 15% combined lead-zinc, 0.3% copper and 320 g/t silver.

No work was undertaken on the prospects during the quarter and it is likely that they will remain on a care and maintenance basis until there is a marked improvement in commodity prices.

OIL AND GAS
Xenolith holds a small interest in the oil and gas sector through its 6.23% equity in KOB Energy Inc, an unlisted company incorporated in the USA. The principal shareholder of KOB Energy Inc is the Toronto listed Kookaburra Resources Ltd, which has an 85% equity.

KOB Energy Inc has a 10% interest in four oil/gas prospects in Mississippi covering approximately 11,187 net acres located in the interior Salt Basin that is part of the northeastern rim of the Gulf of Mexico. These prospects remain on a care and maintenance basis whilst KOB Energy focuses its resources on the East Lost Hills play in California in which it has a 5.25% working interest.

The East Lost Hills project is a high risk/high impact oil and gas play covering an area in excess of 29,000 acres in the San Joaquin Basin in Kern County, California.
Four sites are currently being worked at the East Lost Hills project.

ZIMBABWE PLATINUM MINES (2 FEBRUARY 2001)

Zimplats has concluded the transfer of BHP's platinum assets in Zimbabwe to Zimplats. Its with effect 31 January 2001. The assets consist of BHP's 67% interest in the Hartley Platinum Joint Venture, including the Hartley Platinum Mine, and its 61.3% interest in the Mhondoro Platinum Joint Venture. In concluding these transfers, Zimplats has acquired 100% ownership of the former BHP operating company, BHP Minerals Zimbabwe Pty Ltd, and has registered a change of name so that the Company is now known as Hartley Minerals Zimbabwe Pty Ltd.
The transfer of these assets enables Zimplats to proceed with financing arrangement for the proposed Ngezi/SMC project.

QUEENSLAND GAS COMPANY (2 FEBRUARY 2001)

QUEENSLAND GAS COMPANY’S FIRST APPRAISAL FLOWS GAS

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 flowed gas at 177 000 cubic feet per day (5 000 cubic metres per day) today after drilling through the Macalister Lower seam, which also flowed gas in Argyle No. 1.

Argyle No. 2 had earlier flowed gas at 40 000 cubic feet per day (1 100 cubic metres per day) from the Macalister Upper seam.

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. 2 is the first of a three well appraisal to test the Macalister Upper and Lower seams in the Upper Walloon Coal Measures. All wells are located are 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.

After drilling to an approximate total depth of 205 metres the well will be logged and a Drill Stem Test conducted over the Macalister Lower seam.

Further evaluation of both seams will be carried out prior to completion of the well.

This is a most encouraging result for the early development of this field.
FOR MORE INFORMATION, CLICK HERE.

AMADEUS PETROLEUM (2 FEBRUARY 2001)

Honeywell Announces Strategic Alliance with Amadeus Petroleum

Honeywell [NYSE: HON] Industrial Controls and Amadeus Petroleum NL today announced a strategic alliance to jointly evaluate and develop energy-related projects in Western Australia (WA).
Currently, the two companies have six WA projects under review, all in the renewable and alternative energy, power generating, distribution and monitoring sectors.
Said Steve Hannah, General Manager of Industrial Control, Honeywell Pacific: "The alliance with Amadeus is timely; with the imminent deregulation of the Australian power market and Honeywell’s strategy to expand its 20-year presence in WA. The Honeywell-Amadeus combination will open up new areas of businesses for both parties and help us create new and long term customers."

As part of the alliance, Amadeus intends to issue to Honeywell 10 million share options at 25 cents each; subject to the approval of shareholders. The options expire in November 2004.

PETROZ (2 FEBRUARY 2001)

Phillips Australia WA-248 Company Pty Limited ("Phillips Australia") announced yesterday that its takeover offer has been extended by one week until 7 February 2001.

As at close of business on 31 January 2001, Phillips Australia controls 81.72% of the shares in Petroz.

In accordance with the intention outlined in the Phillips Australia's Bidder’s Statement, a Board meeting of Petroz was held today to make the following changes to the Board:

• Messrs Stephen Brand, Harvey Black and Eric Wiszneauckas, nominated by Phillips Australia, were elected as directors of Petroz.
• The existing Petroz directors, Messrs Harvey Parker, Rod Brown, Roger North, Graham Sturt and Rod Branson, resigned.
• Mr Brand, who is the President of Phillips Petroleum Company Australia Pty Ltd, was appointed as Managing Director by the new Board

DECEMBER QUARTER - OVERVIEW

BAYU-UNDAN PROJECT

• Contract awarded for hook-up and commissioning valued at US$ 90 million.
• Seven key supply and installation contracts valued at US$200 million awarded.
• Production facilities design expanded to enable gas export.
• Forecast development cost increases from US$1.495 billion to US$1.569 billion.
• Phillips' agreement with Woodside for the joint development of Timor Sea gas resources.

ELANG/KAKATUA/KAKATUA NORTH OIL FIELDS

• Further increase in Initial Recoverable Proved Reserves to 28.3 Mmbbl.
• Production expected to extend into the third quarter of 2003.
• Production rate approximately 17,000 bopd.
• Petroz is unhedged in relation to oil price and currency.

EXPLORATION

• Seismic survey totalling 1465 km acquired in the Browse Basin blocks.

FINANCE & CORPORATE

• Revenue totalled $17.462 million
• Cash balance of $17.898 million and zero debt as at 31 December 2000
• Fletcher Challenge Energy (FCE) exercises its option on 29.5 million shares for $12.8 million.
• FCE placement and underwriting agreement rejected at 5 October Shareholders' Meeting.
• Scrip takeover offer by Novus on 16 October.
• Novus takeover offer rejected by Petroz Board on 3 November.
• Cash takeover offer by ENI at $0.56 per share announced on 16 November.
• Petroz A.G.M. held on 30 November.
• Cash takeover offer by Phillips at $0.70 per share announced on 8 December.
• On 20 December 2000 ENI extended its $0.56 offer to 19 January 2001
  

TRIAKO RESOURCES (2 FEBRUARY 2001)

HIGHLIGHTS OF THE DECEMBER 2000 QUARTER

• Production was 10,129 ounces of gold and 106 tonnes of copper from the Mineral Hill Mine with cash operating cost for the quarter after copper credits of $238/oz. The mine cash surplus for the quarter was $700,000 before capital expenditure and exploration.
• Delineation and discovery of high grade copper mineralisation continued at Parkers Hill. On results to date global lower grade and high grade resource estimations were completed (915,000 tonnes at 2.4% Cu and 125,000 tonnes at 7.0% Cu). Initial mine planning studies and metallurgical testwork commenced and a high grade copper concentrate was produced (31.6% Cu at 91.5% recovery). A development decision is expected during the first quarter of 2001.
• Gold targets have been defined for drilling in the Mineral Hill region at Boona East, Meloola and Cugong.
• Zinc mineralisation (3m at 9.6% Zn) was discovered at the previously undrilled Parnell Mine in the Southern Cross joint venture near Broken Hill.
• Triako has increased its strategic holding in Buka Minerals to 27.53% of the issued shares. Buka has completed the sale of 75% of the Lady Loretta zinc deposit and has announced that it will (subject to regulatory approvals) distribute 22 cents per share to Buka shareholders ($5.06 million to Triako).
  

UNION CAPITAL (2 FEBRUARY 2001)

HIGHLIGHTS OF THE DECEMBER 2000 QUARTER

MINERAL RESOURCES DIVISION:

Mehdiabad Zinc Project - Iran (Union 25%)

• Drilling to date has seen 23 diamond holes completed totalling 3,448 metres. All but one of the holes have intersected visible mineralisation. Some of these holes are outside of the known resource area and hence, a larger resource is ultimately expected.

Croydon Project – Australia (Newcrest earning 70%)

• A 4,125m RC drill program by Joint Venture partner Newcrest Mining Limited at the Gilded Rose Prospect has intersected 10m@10.85g/t Au, 5m@11.56g/t Au and 2m@4.88g/t Au. These results indicate the potential for a high-grade, limited tonnage gold deposit.
  

CULLEN RESOURCES (1 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS :

GRENFELL RESOURCES (1 FEBRUARY 2001)

DECEMBER QUARTER - KEY POINTS :

HERALD RESOURCES (1 FEBRUARY 2001)

DECEMBER QUARTER - KEY POINTS :

MIchelago (1 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS :

MINERAL DEPOSITS (1 FEBRUARY 2001)

DECEMBER QUARTER - HIGHLIGHTS :

MINOTAUR RESOURCES (1 FEBRUARY 2001)