December 31, 2006 The extension/renewal of term applied for tenement E80/2064 in Mar/06 was yet to be granted. Four bulk samples have been partially processed and are awaiting completion. Mining Licence M80/532 was granted exempt of expenditure. On going rehabilitation work was in progress.
June 30, 2005 Exploration to date has identified a number of areas where both indicator minerals and commercially sized diamond occurrences remain unresolved. These include the Coolabah (kimberlite bearing fractures), Collison, and Collison North areas. As a result of the trial mining activities at both Seppelt 2 and 5 a decision was made that no further trial mining be undertaken at Seppelt 2 during 2005. A number of factors which include the lower near surface grades caused by dilution of the pipes by gravel, small open pitable tonnages due to the small diameters of the pipes, and the poor diamond size-frequency distribution have combined to increase the financial risk associated with exploiting the Seppelt 2 pipe. It was considered that the Seppelt 5 dyke could not be mined economically (at depth it has a 0.1m-0.15m width).
November 30, 2004 The processing of a surface sample taken from the Seppelt 5 kimberlite project area has recovered 2008 diamonds weighing 82 carats representing the first commercial size diamonds to be recovered from that project area.