Report for the Quarter Ended 31 December 2008 -HIGHLIGHTS

Corporate

> Market value of listed investments is $12.5m, which with cash in hand of $10.8m cash equates to 13.4 cents per share Operations Cairn Hill
> All South Australian approvals granted with MARP subject to acceptance > Approval for Darwin port landfill received, with operational application to be submitted in February                                                                                                    >Site infrastructure work (loading loop civils, haul road and underpass) to be completed shortly
> Long lead time equipment for rail arriving  (SEE LINK BELOW FOR FULL REPORT)

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