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**statement from (shn)**

  1. Marketscan

    34,604 Posts.

    hi guys...

    i sent an e-mail to (shn)...

    here is the reply i got..

    Thank you for you email of 1 April 2004.

    We regretted having to advise the market of the delay to the Bankable Feasibility Study.

    The delay in completing the current drilling programme has provided us with a number of challenges. While we understand your frustration at the deferment, until such time as the ability to recommence drilling was established (which only occurred just prior to the announcement) the Company was not able to provide any indication as to the nature and extent of the delay to the study.

    We appreciated and acknowledge your concern however it remains our position that a statement to the market without definition would represent incomplete information and have caused greater concern to investors.

    The Company and its employees remain confident about the robustness of the Sherlock Bay Project and completing the project development in a proper, efficient and timely manner. We acknowledge that this may not always meet the expectations of those shareholders with short term investment objectives; however we make no apology for this.

    We hope your future investments meet your expectations and wish you well for the future.

    Yours faithfully

    Mark Maine

    Company Secretary

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