Copper Strike’s strategy has been to complete a share-based transaction that will effectively utilise the
Company’s assets and expertise. This has not yet occurred because Copper Strike’s main asset is 11
million Syrah Resources Limited shares currently worth over $36 million. The volatility and positive outlook
for this asset has made it difficult to agree a long term value of Copper Strike shares with potential partners,
making a share based transaction difficult.
In the meantime, good exploration opportunities, such as the Victorian mineral sands project, are being
investigated. Preparations for drilling in the Warracknabeal, Victoria, area on Exploration Licence 5415
have been completed with drilling scheduled to start in early February 2013.