In order to maximise returns for shareholders, the Company plans to maintain its high level of equity ownership of its key properties as it sequentially develops its mineral assets.

The initial development will be the Browns Oxide Project. A decision to develop this project, subject to finance and regulatory approvals was made in January 2006. Although relatively small in scale, this Project should be robust and profitable and will allow the Company to build up a successful operating organisation and to establish a reputation as a reliable metals supplier.

The sequential development of the major sulphide resources is expected to lag the oxide project start up by several years. It will provide the basis for large long term mining operations in the Northern Territory.

In parallel the Company will seek to establish uranium resources at the largely Compass owned Rum Jungle uranium field. Given the projected strong uranium prices, the Company intends to fast track any uranium discoveries made as a result of this exploration initiative.

The Company also expects Alkane Exploration Limited to bring its 600,000 ounce Wyoming gold deposit NSW into production in the near term. Compass holds a substantial royalty entitlement over this resource and an extensive area beyond and will receive significant royalty income from any project development.

The Company’s exploration strategy to focus on base metals and gold as priority commodities and to consolidate landholdings in order to control, if possible, significant portions of potential or emerging mineral districts, has proven very successful. Competition for exploration land, particularly for uranium and base metals has increased markedly over the past few years and the foresight of the Company has been rewarded.