Member Info for andyhayward

I believe that would be max amount if all LOAC warrants (circa $23m) are converted

100 years what an embarrassing comment. DP stated in the SITC KOL that we're looking at 2-3 years for MRx0518 to market

Brandberg Energy Joint Venture North River created a 50% joint venture with Extract Resources in January 2012 to complete a 1,500 metre drill programme to test two uranium targets identified on EPLs 3327 and 3328 by horizontal loop electromagnetic surveys in 2011. In September 2012, it was reported to the market that the programme was unable to identify mineralisation in commercial quantities. Therefore no further work was planned. It was decided to keep the joint venture in place for potential exploration should a Nuclear Fuels licence be granted for EPL 3139. However, this has not been forthcoming and it has therefore been decided by North River and Extract Resources to dissolve the joint venture. Martin French, Managing Director, said "The coming months will be highly active at our flagship Namib lead zinc mine where we plan to step up exploration through the commencement of drilling, geophysics and other studies at the site. Consequently it makes sense to secure prospective targets on EPL 5075, which could potentially supply new ore sources for Namib. We are moving quickly to develop a surface exploration programme which will provide a significant new dimension to the Namib project. In line with our policy of streamlining our portfolio we have allowed EPL 3139 to lapse and have dissolved the Brandberg joint venture, as we focus our efforts on adding value to Namib in 2013." **ENDS**

North River Resources plc Expands Namib Lead Zinc Project Area through Grant of Contiguous EPL North River Resources is pleased to announce that it has expanded its Namib Lead Zinc Project area having been granted a new Exclusive Prospecting Licence (EPL No. 5075) which covers an area contiguous to the existing EPL (No. 2902,). (Please see the attached PDF to view the associated map.) The new EPL represents a significant expansion to the Company's exploration area, from 4,523 ha to 16,918 ha. The Company is currently collating historic data on the EPL 5075 and plans to conduct a review of structural geology, followed by a geochemistry and geophysics programme, to identify new exploration targets. Previous exploration of the area, which includes a significant amount of drilling and surface geochemistry, has highlighted numerous surface gossans that are similar in size to the one that led to the discovery of the Namib Mine. Additionally, historic exploration has provided positive indications that lead and zinc ore are present within the EPL and this is underpinned by the presence of the Karib Formation host marble, containing lead, zinc, silver ore, which folds and widens within the licence area. The historic data indicates that previous explorers only drilled shallow exploration holes, and thus significant ore may have been missed at depth. The EPL extends primarily south of the Namib mine site and crosses the Trans Kalahari highway. As with EPL 2902, EPL 5075 is located on excellent mining country. It is largely flat, denuded desert with little or no cover. North River is currently finalising environmental clearances and designing its works programmes. The Company will provide further information to the market on this in the near term. Ubib North River also announces that it has allowed EPL 3139 (known as Ubib) to lapse. The Company had carried out a surface exploration programme for the principal targets of gold and copper on the EPL, but failed to find sufficient evidence of commercial prospectivity to warrant further expenditure. The Company had also noted a uranium anomaly on the EPL. However, the Namibian authorities have made it clear that the moratorium on new Nuclear Fuels exploration licenses persists, and as a result the board has decided to allow the EPL to lapse.