Hi, Paul.

NTS will not apply for the investment licence for at least 5 months.
They are revisiting the question of building downstream processing
facilities (which the Vietnamese want) and are seeking to do so in
partnership with a South African company. So, no action on that front
for some time.

Meanwhile, back at the ranch, the 3 rivers drilling results look pretty
good and they've got some other promising stuff in WA. They recently
made a placement of shares equivalent 10% of the issued capital to
Plutonic Resources (PLU), and a story going around is that PLU may have
bought another x% (x<=6) on market. We deduce from this that PLU may
well make a takeover bid for NTS, and for various reasons this could
be most likely around the end of January. If so, the premium they will
pay for control should see the shares close to 20 cents.

The NTS geologist is doing a "road show" at the moment - I had him in to
Camerons this morning and he was at SHAW this afternoon. About 10
brokers in Melbourne next week. That should stimulate some interest in
the stock and you may get your sell price. Otherwise, I don't expect
anything significant until January.

I haven't had time to look into the 400 PDP.

What you should have got for opening an account was a booklet in a large
Cameron's envelope. It has the forms in the back. I'll send you another
one.

Regards, fIM.

 * * Marriage is the only adventure open to the cowardly.
@EOT:

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